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RBC Encourages Canadians’ Reconnection to Favorite Companies
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RBC Encourages Canadians’ Reconnection to Favorite Companies

Royal Bank of Canada (RY), Canada’s second largest bank, announced on Friday the launch of a new campaign, Time for More, designed to induce Canadians to reconnect with the businesses they love. Throughout the summer, eligible RBC credit and debit cardholders will have the opportunity to benefit from many offers from some of their favorite companies and brands. This campaign follows last summer’s Points for Canada campaign.

Sean Amato-Gauci, EVP, Cards, Payments & Banking at RBC said, “We know many Canadians are excited to get back to shopping and dining at their favorite stores and restaurants and businesses have been anticipating their return. Last summer, Points for Canada offered our RBC Rewards clients millions of dollars in savings and benefits and helped provide a much needed boost to local businesses and economies. With Time for More, we’re building on this momentum by rewarding more of our clients and teaming up with more businesses to help our country come back strong.”

In addition, eligible RBC credit cardholders will take advantage of the recently announced joint initiative of RBC and DoorDash, a leading last-mile delivery platform, by receiving a free subscription to DashPass for a period of up to 12 months. (See Royal Bank of Canada stock charts on TipRanks)

A month ago, CIBC analyst Paul Holden kept a Hold rating on RY while lowering its price target to C$131.00 (from C$133.00). This implies 4.5% upside potential.

The rest of the Street is cautiously optimistic on RY with a Moderate Buy consensus rating, based on 5 Buys and 3 Holds. The average Royal Bank of Canada price target of C$136.56 implies 8.97% upside potential to current levels.

TipRanks’ Smart Score

RY scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.

Related News:
RBC Launches New Brand Platform for Tokyo 2020 Olympic Games
RBC and DoorDash Partner to Bring Deals and Savings to Canadians
RBC Direct Investing Launches Free, Customizable Trading Dashboard

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