Canaccord Genuity analyst Matthew Lee maintained a Buy rating on Royal Bank Of Canada today and set a price target of C$224.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Matthew Lee has given his Buy rating due to a combination of factors that highlight the strong financial performance and strategic positioning of the Royal Bank of Canada. The bank’s adjusted cash EPS significantly surpassed both consensus and internal estimates, indicating robust profitability. Revenue growth was also better than expected, with a lower expense ratio contributing to improved operational efficiency.
Moreover, the bank’s capital strength is evidenced by a CET1 ratio that exceeded expectations, driven by strong capital generation. The bank’s performance in various segments, such as Capital Markets and Wealth Management, showed impressive year-over-year growth, further supporting the positive outlook. Additionally, the bank’s proactive share repurchase program underlines its commitment to returning value to shareholders, reinforcing the Buy recommendation.
In another report released on November 25, UBS also reiterated a Buy rating on the stock with a C$238.00 price target.