Barclays Lowers PT and Estimates on Royal Bank of Canada (RY); Coming Off The Bandwagon
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Price: $59.38 +0.75%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade RY Now!
Barclays maintains an 'Equalweight' on Royal Bank of Canada (NYSE: RY) price target lowered from CAD$57 to CAD$55.
Analyst, John Aiken, said, "Unlike the experience in the first quarter, it appears that the market is not happy with earnings for Royal being supported by the capital markets. While we do believe that the sustainability of these revenues do merit some challenges in the current environment, we are surprised to see the market immediately discounting them, particularly after the positive reaction they garnered coming out of the first quarter."
Aiken lowers FY12 EPS Estimate from $4.93 to $4.83 and FY13 from $5.20 to $5.02.
For an analyst ratings summary and ratings history on Royal Bank of Canada click here. For more ratings news on Royal Bank of Canada click here.
Shares of Royal Bank of Canada closed at $50.01 yesterday, with a 52 week range of $41.40-$61.25.
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Analyst, John Aiken, said, "Unlike the experience in the first quarter, it appears that the market is not happy with earnings for Royal being supported by the capital markets. While we do believe that the sustainability of these revenues do merit some challenges in the current environment, we are surprised to see the market immediately discounting them, particularly after the positive reaction they garnered coming out of the first quarter."
Aiken lowers FY12 EPS Estimate from $4.93 to $4.83 and FY13 from $5.20 to $5.02.
For an analyst ratings summary and ratings history on Royal Bank of Canada click here. For more ratings news on Royal Bank of Canada click here.
Shares of Royal Bank of Canada closed at $50.01 yesterday, with a 52 week range of $41.40-$61.25.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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