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Royal Bank of Canada Upgraded to Buy at TD

BY MT Newswires | ECONOMIC | 12/04/25 07:53 AM EST

07:53 AM EST, 12/04/2025 (MT Newswires) -- Royal Bank of Canada (RY) (RY.TO, RY) was upgraded to Buy from Hold at TD Securities on Thursday.

Analyst Mario Mendonca raised his price target on shares of the Canadian bank to $246 from $215 following its Q4 results on Wednesday.

"Overall, a strong quarter for RY," Mendonca said in a note to clients. "Buoyant capital markets activity (trading) supported top line growth and operating leverage was exceptional."

"The significant EPS beat was only incidental relative to the 17%+ ROE guidance, stable credit outlook, capital generation, and buyback message," the analyst said.

"RY should benefit from HSBC-synergies, AI-related savings, deposit mix, and better loan growth."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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