Credit Suisse Believes RY Won’t Stop Here

By Ryan Adsit

Credit Suisse analyst Kevin Choquette assigned a Buy rating to Royal Bank Of Canada (NYSE: RY) today. The company’s shares closed last Friday at $63.47, close to its 52-week high of $64.31.

According to TipRanks.com, Choquette is a 4-star analyst with an average return of 6.0% and a 75.9% success rate. Choquette covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.

Royal Bank Of Canada has an analyst consensus of Hold.

Royal Bank Of Canada’s market cap is currently $94.07B and has a P/E ratio of 12.23. The company has a book value ratio of 1.9615.

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, and Capital Markets. The Personal and Commercial Banking segment offers services including auto financing, and retail investment businesses. The Wealth Management segment provides investments services, trusts, banking, credit, and other wealth management solutions. The Insurance segment refers to a range of life, health, home, auto, travel, wealth, group, and reinsurance products. The Investor and Treasury Services segment offers services among institutional investing clients through asset servicing, custodial, advisory, financing and other services to safeguard assets, maximize liquidity and manage risk, and providing short term funding, and liquidity management. The Capital Markets segment refers to services among public and private companies, institutional investors, government and central banks such as corporate and investment banking, equity and debt origination and distribution, and structuring and trading. The company was founded by J. W. Merkell, Edward Kenny, T. C. Kinnear, James B. Duffus, William Cunard, John Tobin, George P. Mitchell and Jeremiah Northup in 1864 and is headquartered in Toronto, Canada.