Barclays initiated coverage of Royal Bank of Canada with an Equal Weight rating and C$145 price target. The analyst launched coverage on Canada and Latin America Banks with a Positive industry view. The firm prefers Mexico over Canada given current trends in net interest margin, economy, deposits, loans, returns, credit quality, capital, earnings and valuation. Exposure to residential mortgage loans is an additional concern in Canada, the analyst tells investors in a research note.
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Read More on RY:
- Royal Bank of Canada price target lowered to C$140 from C$141 at CIBC
- Royal Bank of Canada Posts Strong Q1 Earnings
- Royal Bank of Canada reports Q1 adjusted diluted EPS C$2.85 vs. C$2.78 last year
- RY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Royal Bank of Canada initiated with a Hold at Jefferies