Recent extremely meaningful positive changes in investment behavior have benefitted Royal Bank of Canada (NYSE: RY): its shorter term price trend turned up, and its longer term price trend turned up.
Recent significant positive changes in fundamentals have benefitted Royal Bank of Canada (NYSE: RY): significant quarterly earnings acceleration occurred, and the stock’s power rating rose above 70.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
RY is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Royal Bank of Canada has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Royal Bank of Canada has a good Power Rating of 71 and a very high Appreciation Score of 97, triggering the Highest Value Trend Rating.
Recent Price Action
Royal Bank of Canada (NYSE: RY) stock closed at $101.02 on 5/7/24 after a slight decline of -0.8%. However, trading volume in this decline was unusually low at 53% of normal. The stock has risen 3.1% during the last week and has been strong relative to the market over the last nine months.
Be the first to comment