Royal Bank Of Canada (RY) : Analyst Rating Update

Royal Bank Of Canada (RY) : The consensus on Royal Bank Of Canada (RY) based on 3 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 1 which endorses a Strong Buy on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Royal Bank Of Canada (RY) : Currently there are 5 street experts covering Royal Bank Of Canada (RY) stock. The most bullish and bearish price target for the stock is $68 and $55 respectively for the short term. The average price target of all the analysts comes to $62.74. The estimated standard deviation from the target is $4.46.

Royal Bank Of Canada (NYSE:RY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $58.82 and $58.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $59.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $59.14, notching a gain of 0.07% for the day. The total traded volume was 1,005,815 . The stock had closed at $59.10 on the previous day.

Also, Argus Research initiates coverage on Royal Bank Of Canada (NYSE:RY). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $69 per share. The rating by the firm was issued on July 1, 2016. The company shares have dropped -0.35% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $63.43 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $60.42 and the 200 Day Moving Average price is recorded at $55.99.

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada, United States and Other International.

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