Royal Bank of Canada (RY) Stock Forecast & Price Target

$123.79

+2.32 (+1.91%)

(As of 10/11/2024 ET)

Royal Bank of Canada - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 7 Analyst Ratings

Sell
0

Hold
1

Buy
6

Based on 7 Wall Street analysts who have issued ratings for Royal Bank of Canada in the last 12 months, the stock has a consensus rating of "Buy." Out of the 7 analysts, 1 has given a hold rating, 5 have given a buy rating, and 1 has given a strong buy rating for RY.

Consensus Price Target

$142.50
15.11% Upside

According to the 7 analysts' twelve-month price targets for Royal Bank of Canada, the average price target is $142.50. The highest price target for RY is $165.00, while the lowest price target for RY is $120.00. The average price target represents a forecasted upside of 15.11% from the current price of $123.79.

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RY Analyst Ratings Over Time

Type	Current Forecast 10/13/23 to 10/12/24	1 Month Ago 9/13/23 to 9/12/24	3 Months Ago 7/15/23 to 7/14/24	1 Year Ago 10/13/22 to 10/13/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	5 Buy rating(s)	5 Buy rating(s)	5 Buy rating(s)	2 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	2 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$142.50	$142.50	$133.25	$131.50
Forecasted Upside	15.11% Upside	14.93% Upside	19.82% Upside	56.87% Upside
Consensus Rating	Buy	Buy	Moderate Buy	Hold

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RY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

RY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Royal Bank of Canada Stock vs. The Competition

Type	Royal Bank of Canada	Finance Companies	S&P 500
Consensus Rating Score	3.00	2.48	2.50
Consensus Rating	Buy	Hold	Moderate Buy
Predicted Upside	15.11% Upside	12.51% Upside	6.86% Upside
News Sentiment Rating	Positive News See Recent RY News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/29/2024	BMO Capital Markets 4 of 5 stars	S. Movahedi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$151.00 ➝ $165.00	+37.17%
7/2/2024	UBS Group 4 of 5 stars	J. Shea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy
6/6/2024	Argus 3 of 5 stars	S. Biggar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$115.00 ➝ $120.00	+12.09%
5/17/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Grauman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/13/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy
3/20/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight
12/18/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy
8/25/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$138.00 ➝ $139.00	+56.43%
5/16/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Sector Outperform ➝ Neutral
2/7/2023	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$145.00 ➝ C$147.00
12/1/2022	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$148.00 ➝ C$147.00
12/1/2022	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Scott Chan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	C$131.00 ➝ C$136.00
12/1/2022	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating	Mike Rizvanovic Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Underperform ➝ Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 04:26 PM ET.

Should I Buy Royal Bank of Canada Stock? RY Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, October 7, 2024. Please send any questions or comments about these Royal Bank of Canada pros and cons to contact@marketbeat.com.

Royal Bank of Canada
Bull Case

Here are some ways that investors could benefit from investing in Royal Bank of Canada:

Recent developments show that Royal Bank of Canada operates as a diversified financial service company worldwide, offering a wide range of banking services.
With a strong presence in the Personal & Commercial Banking segment, Royal Bank of Canada provides various financial products such as checking and savings accounts, home equity financing, personal lending, private banking, and indirect lending.
Investors may find it appealing that Royal Bank of Canada has a solid reputation in the financial industry, which can provide stability and reliability for their investment.
One of the reasons to consider investing in Royal Bank of Canada is its consistent performance and growth in recent periods, indicating a positive outlook for potential returns.
Current stock price of Royal Bank of Canada is favorable for investors looking to enter the market at a reasonable valuation.

Royal Bank of Canada
Bear Case

Investors should be bearish about investing in Royal Bank of Canada for these reasons:

While Royal Bank of Canada offers a diverse range of financial services, increased competition in the banking sector may pose challenges for the company's growth and profitability.
Market volatility and economic uncertainties could impact Royal Bank of Canada's performance and stock price, leading to potential risks for investors.
Regulatory changes and compliance requirements in the financial industry may affect Royal Bank of Canada's operations and profitability, creating additional challenges for the company.
Investors should consider the overall economic conditions and market trends before making investment decisions related to Royal Bank of Canada, as external factors can influence the company's performance.
While Royal Bank of Canada has shown resilience in the past, investors should be cautious of potential risks and uncertainties in the financial markets that could impact the company's future prospects.

RY Forecast - Frequently Asked Questions

: According to the research reports of 7 Wall Street equities research analysts, the average twelve-month stock price forecast for Royal Bank of Canada is $142.50, with a high forecast of $165.00 and a low forecast of $120.00.
: 7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last twelve months. There is currently 1 hold rating, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" RY shares.
: According to analysts, Royal Bank of Canada's stock has a predicted upside of 15.11% based on their 12-month stock forecasts.
: Royal Bank of Canada has been rated by research analysts at BMO Capital Markets in the past 90 days.
: Royal Bank of Canada also publishes sell-side equities research reports and recommendations about other companies, which can be viewed at its brokerage rating page.
: Analysts like Royal Bank of Canada more than other "finance" companies. The consensus rating for Royal Bank of Canada is Buy while the average consensus rating for "finance" companies is Hold. Learn more on how RY compares to other companies.

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This page (NYSE:RY) was last updated on 10/12/2024 by MarketBeat.com Staff

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