70/100BRoyal Bank of Canada stock forecast 2026–2029
Analysts' average 12-month price target for Royal Bank of Canada is 225.00, 7.3% above the current price of 209.77. Their targets range from 225.00 to 225.00.
Of the 2 firms that rated Royal Bank of Canada in the past 12 months, 1 rate it buy or strong buy, 1 hold and 0 sell or strong sell (each firm at its latest rating); on average they come to Buy.
Analysts' 1-year price targets range from 225.00 to 225.00, with an average of 225.00.
| Strong buy | 0 | |
| Buy | 1 | |
| Hold | 1 | |
| Sell | 0 | |
| Strong sell | 0 |
12-month price target
| Highest target | 225.00 |
| Average target | 225.00 |
| Lowest target | 225.00 |
| Current price | 209.77 |
Royal Bank of Canada price target history
How analysts rate Royal Bank of Canada, month by month
1 of 2 firms rate it buy now, against 3 of 6 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Royal Bank of Canada analyst upgrades, downgrades and price targets
The latest rating change came on 12 May 2026, when Raymond James downgraded Royal Bank of Canada from Outperform to Mkt Perform. The most recent new target came from Argus Research on 11 June 2026: 225.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 11 Jun 2026 | Argus Research | — | 225.00 | — | 197.39 |
| 12 May 2026 | Raymond James | Downgraded · Outperform → Mkt Perform | — | — | — |
| 4 Dec 2025 | TD Securities | Upgraded · Hold → Buy | — | — | — |
| 25 Nov 2025 | Jefferies | Downgraded · Buy → Hold | — | — | — |
Royal Bank of Canada EPS and revenue estimates
Analysts expect Royal Bank of Canada's EPS to grow 12.6% a year until 2027. Over the last 5 years it grew 12.5% a year, and over the last 3 years 8.4%.
Analysts expect Royal Bank of Canada's revenue to fall 16.2% a year until 2028. Over the last 5 years it grew 17.6% a year, and over the last 3 years it grew 27.1%.
Revenue
EPS
Does Royal Bank of Canada beat earnings estimates?
On average, analysts' EPS estimate was 6.6% off the result, either way, and their revenue estimate 25.3%, over the last 12 quarters.
- EPS beats
- 84 / 136
- Revenue beats
- 86 / 123
- Average EPS surprise, last 12
- +6.2%
- Since
- March 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 27 Aug 2026 | 2.89 | 3.07 | +6.2% | 12.98B | 13.22B | +1.8% |
| Q2 FY2026 | 28 May 2026 | 2.81 | 2.84 | +1.1% | 12.74B | 12.84B | +0.8% |
| Q1 FY2026 | 26 Feb 2026 | 2.81 | 2.94 | +4.6% | 12.85B | 13.18B | +2.5% |
| Q4 FY2025 | 3 Dec 2025 | 2.51 | 2.76 | +10.0% | 11.98B | 12.28B | +2.4% |
| Q3 FY2025 | 27 Aug 2025 | 2.36 | 2.79 | +18.2% | 12.11B | 16.96B | +40.1% |
| Q2 FY2025 | 29 May 2025 | 2.25 | 2.20 | -2.2% | 11.85B | 15.66B | +32.1% |
| Q1 FY2025 | 27 Feb 2025 | 2.28 | 2.55 | +11.8% | 10.84B | 16.72B | +54.3% |
| Q4 FY2024 | 4 Dec 2024 | 2.15 | 2.25 | +4.7% | 10.84B | 15.06B | +38.9% |
| Q3 FY2024 | 28 Aug 2024 | 2.15 | 2.38 | +10.7% | 7.82B | 14.69B | +87.8% |
| Q2 FY2024 | 30 May 2024 | 2.11 | 2.14 | +1.4% | 10.28B | 10.13B | -1.4% |
| Q1 FY2024 | 28 Feb 2024 | 2.08 | 2.12 | +1.9% | 10.00B | 10.15B | +1.5% |
| Q4 FY2023 | 30 Nov 2023 | 1.89 | 2.00 | +5.8% | 9.50B | 13.25B | +39.5% |
Royal Bank of Canada stock price 2026–2029: scenarios
If Royal Bank of Canada's earnings keep growing at the 11.4% a year analysts expect to FY2027, it would earn about 15.85 a share in FY2029. At the P/E it has traded at over the last five years (10.7 to 14.9) that is 170.03 to 236.87 a share, or 200.45 at its average P/E of 12.6. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 11.74 | 125.97 | 148.50 | 175.48 |
| FY2027 | 12.78 | 137.07 | 161.59 | 190.95 |
| FY2028 (extrapolated) | 14.23 | 152.66 | 179.97 | 212.67 |
| FY2029 (extrapolated) | 15.85 | 170.03 | 200.45 | 236.87 |
Each year's EPS is the analysts' consensus to FY2027; the years after continue its 11.4% a year. Bear, base and bull apply the lowest, average and highest P/E of the last five fiscal year ends (10.7, 12.6, 14.9).
Is Royal Bank of Canada stock undervalued or overvalued?
Royal Bank of Canada's P/E of 18.4 is near the top of its 5-year range (10.2 to 20.1, median 13.1). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history. Buyers pay more for each point of growth than usual: a PEG of 1.5 on expected growth against 1.1 on its median P/E and past five years' growth. At its usual P/E (13.1 × EPS of 11.38), Royal Bank of Canada's fair value is 149.38; the price, 209.77, is 40.4% above it. Its forward P/E, on the consensus for FY2027, is 16.4.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (10.2 and 20.1). The price against its P/E range
- Price to earnings ratio (TTM)
- 18.43
- Five-year median P/E
- 13.13
- Five-year P/E range
- 10.2 – 20.1
- Forward P/E (FY2027)
- 16.42
- PEG ratio
- 1.62
- To the average target
- +7.3%
Most undervalued US stocks
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Furthest below the fair value on each stock's page, updated every day.