| 2016-10-13 07:55:28|
RY 07:55 10/13 10/13/16
Royal Bank of Canada upgraded to Buy from Hold at Canaccord
Canaccord analyst Gabriel Dechaine upgraded Royal Bank of Canada to Buy from Hold as his review of the potential downside risk to Canadian bank earnings in an economic downturn showed the company's capital ratios would remain healthy. Dechaine also cited the company's potential turnaround in P&C earnings, leverage to rising U.S. interest rates, and strong capital position. Dechaine raised his price target to C$89 from C$85 on Royal Bank of Canada shares.