Market Overview

UPDATE: Citigroup Initiates Royal Bank of Canada at Buy

Related RY
Rental Property Stocks Get New Lease On Profits With Rising Interest Rates
10 Stocks To Watch For November 30, 2016
4 Canadian Dividend All-Stars Expected To Announce Dividend Increases - Week Of February 20-25, 2017 (Seeking Alpha)

Citigroup initiated coverage on Royal Bank of Canada (NYSE: RY) with a Buy rating.

Citigroup noted, "We initiate coverage of RY with a Buy rating, target price of C$67 and ETR of 18%. We believe that RY's build-out of its wholesale business offers investors upside to earnings estimates. We think investors should also exploit the market's over-discounting of macro fears in the RY shares – worries about an overlevered Canadian consumer and slowing volume growth.

Royal Bank of Canada closed at $58.89 on Monday.

Latest Ratings for RY

Dec 2016ArgusMaintainsBuy
Dec 2016RaffertyDowngradesBuyHold
Nov 2016TD SecuritiesUpgradesHoldBuy

View More Analyst Ratings for RY
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (RY)

View Comments and Join the Discussion!