Market News

RBC Launches New Brand Platform for Tokyo 2020 Olympic Games

On Wednesday, Royal Bank of Canada (RY) launched a new Brand Platform: Ideas Happen Here, first expressed in the bank’s marketing campaign for the Tokyo 2020 Olympic games. The brand platform is a testament to RBC’s determination to harness the power of people and their ideas to contribute to client success and community prosperity.

RBC’s new platform reflects the bank’s unique initiatives, including the RBC Training Ground, a program that identifies and funds Canada’s next Olympic athletes.

Neil McLaughlin, Group Head, Personal & Commercial Banking, RBC, said, “RBC’s new Brand Platform embodies our relentless pursuit of ideas that inspire us to challenge standards and introduce offerings that go beyond banking. It also reflects our commitment to making bold investments and establishing strategic partnerships, all while fostering an innovative culture. This aligns with the aspirations we see brought to life in the incredible roster of RBC Olympians and RBC Training Ground athletes who we are proud and excited to cheer on during the Tokyo 2020 Olympic Games.”

Following the Tokyo 2020 Olympics, Ideas Happen Here will be the strategic platform behind most of RBC’s marketing activities. (See Royal Bank of Canada stock charts on TipRanks)

On June 23, 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 2.4% upside potential.

The rest of the Street is cautiously optimistic on RY with a Moderate Buy consensus rating based on 6 Buys and 3 Holds. The average Royal Bank of Canada price target of C$134.46 implies 5% upside potential to current levels.

TipRanks’ Smart Score

RY scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to outperform the overall market.

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