Royal Bank Of Canada (TSE:RY) Has Just Had Its Price Objective Diminished by Professional Analysts at Bank of America (Merrill Lynch) to $92.00

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Analysis: Royal Bank Of Canada (TSE:RY) Price Target Upgraded Today

In an analyst research report sent to clients and investors by Bank of America (Merrill Lynch) on Thursday morning, the firm, Royal Bank Of Canada (TSE:RY), had their TP downgraded to $92.00. Analusts at present have a solid Buy rating on the stock.

From a total of 16 analysts covering RBC (TSE:RY) stock, 10 rate it a ”Buy”, 2 a “Sell”, and 5 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $71.33 while the lowest target price is $53.31. The mean of all analyst targets is $62.05 with a 1.52% above today’s ($76.34) stock price. RBC was the topic of 11 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc.

Approximately 1.34M shares of stock traded hands. Royal Bank of Canada (TSE:RY) has declined 4.04% since April 30, 2015 and is downtrending. It has underperformed by 3.76% the S&P500.

Royal Bank Of Canada (TSE:RY) Has Just Had Its Price Objective Diminished by Professional Analysts at Bank of America (Merrill Lynch) to $92.00

Royal Bank of Canada is a diversified financial services company. The company has a market cap of $113.37 billion. The Firm provides personal and commercial banking, wealth management services, insurance, investor services and capital markets services and products on a global basis. It has 11.64 P/E ratio. It operates in five divisions: 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 well-known provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.

According to Zacks Investment Research, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries.” Get a free copy of the Zacks research report on Royal Bank of Canada (RY).

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