Canaccord Genuity Maintains a Hold Rating on Royal Bank of Canada

By Jason Carr

Wall Street analyst has provided a rating update for the Financial sector company today, while remaining neutral on the stock. Canaccord Genuity’s analyst Scott Chan CFA reiterates their Hold rating on the shares of Royal Bank of Canada (TSX: RY), with a C$109 price target.

Chan CFA wrote:

“We maintain our HOLD rating and target price of C$109/sh. The company also unveiled several new 2021 targets, which we perceive as incrementally helpful to the investment case.”

According to TipRanks.com, CFA is ranked #3266 out of 4829 analysts.

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Currently, the analyst consensus on Royal Bank of Canada is Hold and the average price target is C$109, representing a 9.1% upside.

In a report issued on June 8, CIBC also reiterated a Hold rating on the stock.

The company has a one-year high of C$108.52 and a one-year low of C$90.13. Currently, Royal Bank of Canada has an average volume of 2.1M.

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following business segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support.

The company’s shares closed on Wednesday at C$99.92.