Royal Bank of Canada (RBC) has recently received updated analyst coverage from two notable financial institutions, STA Research and Scotia Capital.

Scotia Capital (Analyst Rank#8)  has adjusted its target price for RBC’s stock upwards, raising it to $157 from the previous $153. Along with this target price revision, Scotia Capital has also maintained its Outperform rating on RBC. This suggests that Scotia Capital views RBC favorably and expects the stock to outperform the broader market in terms of investment returns.

STA Research (Analyst Rank#10) has maintained its previous assessment of RBC, keeping a Hold rating on the stock. The target price set by STA Research for RBC’s stock stands at CAD 125. This indicates that STA Research believes the current valuation of RBC is appropriate, suggesting a cautious stance on the stock’s potential for significant upside.

Royal Bank Stock Forecast & Analysis

Based on the Royal Bank of Canada (RBC) stock forecast derived from the analysis of 11 analysts, the average target price for RBC is estimated to be CAD 144.23 over the course of the next 12 months. This projection suggests a potential upside from the current stock price. Moreover, the consensus among analysts is a Strong Buy rating, indicating a high level of confidence in RBC’s future performance.

Stock Target Advisor’s own analysis of RBC presents a Neutral outlook. This assessment is based on an equal balance of positive and negative signals derived from various indicators and factors. While there are five positive signals pointing towards potential opportunities, there are also five negative signals raising concerns or indicating potential risks associated with RBC’s stock.

At the last closing, RBC’s stock price was CAD 146.95. This represents a positive change of +2.54% over the past week, +6.19% over the past month, and a significant increase of +18.45% over the last year. These positive trends in stock price performance reflect a favorable market sentiment towards RBC and may be attributed to a variety of factors such as strong financial performance, positive industry outlook, and overall market conditions.