Royal Bank of Canada initiated with a Buy at UBS

UBS analyst Jill Shea initiated coverage of Royal Bank of Canada (RY) with a Buy rating and C$165 price target. UBS expects Royal Bank of Canada to have industry-leading 9% revenue and 5% cash EPS growth thorugh 2025, leading to top-tier 15% adjusted ROE in 2025 that will support shares trading at a healthy premium relative to peers, the analyst tells investors in a research note. Royal Bank of Canada’s successful closing and integration of the HSBC Bank Canada (HSBC) transaction presents meaningful opportunity for expense saves and potential revenue synergies, the firm adds.