Matthew Lee, an analyst from Canaccord Genuity, maintained the Buy rating on Royal Bank Of Canada (RY – Research Report). The associated price target remains the same with C$191.00.
Matthew Lee has given his Buy rating due to a combination of factors that highlight the Royal Bank of Canada’s strong financial performance and strategic positioning. The bank reported an adjusted cash EPS that significantly surpassed both consensus and internal estimates, indicating robust earnings growth. Additionally, the revenue and expense ratio outperformed expectations, demonstrating operational efficiency and effective cost management.
Furthermore, the Royal Bank of Canada showed impressive growth in its Canadian banking and capital markets segments, with notable increases in loan balances and trading revenues. The wealth management division also exceeded projections, driven by higher revenues and improved efficiency. The bank’s strong CET1 ratio and strategic share repurchases further underscore its solid capital position, supporting the Buy recommendation.
In another report released on February 23, Jefferies also maintained a Buy rating on the stock with a C$192.00 price target.