Royal Bank of Canada price target raised to C$124 from C$122 at Barclays

Barclays raised the firm’s price target on Royal Bank of Canada to C$124 from C$122 and keeps an Underweight rating on the shares. With consensus estimates lowered coming out of the Q2 reports, Canadian banks “could surprise to the upside,” posting better than expected Q3 earnings and continuing to “fuel valuations ahead of the long-awaited and but now only potential recession,” the analyst tells investors in a research note.