What is Royal Bank of Canada's stock performance?

Royal Bank of Canada (RY) stock has gained 34% over the past year and recently hit new highs, showing strong technical momentum.

Are analysts recommending Royal Bank of Canada stock?

Yes, consensus analyst ratings for Royal Bank of Canada are overwhelmingly positive, with multiple 'Strong Buy' opinions.

Is Royal Bank of Canada stock overvalued?

Morningstar has cautioned that Royal Bank of Canada is 35% overvalued after its recent significant price run.

Home / Business and Economy / RBC Stock Soars: Technicals Signal Strong Buy

RBC Stock Soars: Technicals Signal Strong Buy

18 Dec

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Summary

Royal Bank of Canada stock gained 34% over the past year.
Analysts show overwhelming support with 'Strong Buy' ratings.
Morningstar warns the stock is 35% overvalued after its rally.

RBC Stock Soars: Technicals Signal Strong Buy

Royal Bank of Canada (RY), recognized as Canada's largest financial institution by assets and market capitalization, is currently exhibiting robust technical indicators. Over the past twelve months, RY's stock value has appreciated by 34%, and it has achieved 17 new all-time highs within the last month alone. This performance has been underscored by overwhelmingly positive analyst consensus, featuring multiple 'Strong Buy' recommendations and price objectives reaching as high as $269.

The bank, operating globally under the RBC brand, offers a diverse range of financial services including personal and commercial banking, wealth management, insurance, and corporate banking. Its current upward trajectory is further supported by a Trend Seeker 'Buy' signal, which was initiated on October 23, leading to a 13.36% gain since that date. Technical metrics further emphasize this strength, with a Weighted Alpha of +46.13 and a unanimous 'Buy' opinion from Barchart's indicators.