Canaccord resumed coverage of Royal Bank of Canada with a Buy rating and C$142 price target. The firm, while resuming coverage of the Canadian bank sector going into what it calls “a crucial year for both the industry and economy,” notes that macro indicators point to slowing loan growth and normalizing PCLs, but adds that it believes the market has “already priced much of the coming pain into valuations.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RY:
- Royal Bank of Canada files mixed securities shelf, no amount given
- Canada money laundering watchdog FINTRAC fines Royal Bank of Canada C$7.5M
- Canadian Banks Brace for Rocky Economy as Bad Loans Spike
- Royal Bank of Canada price target raised to C$140 from C$132 at BMO Capital
- Options Volatility and Implied Earnings Moves Today, November 30, 2023