As previously reported, BofA upgraded Royal Bank of Canada to Buy from Neutral with a price target of C$146, or $110 in U.S. dollars, implying 11% upside from current levels. The firm sees a “compelling” risk/reward outlook despite macro uncertainties given what if sees as Royal Bank’s strong execution, deal-driven synergies and “best-in-class ROE defensibility,” the analyst tells investors.
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