Barclays Sees Stronger Q3 Results, Raises Price Target for Royal Bank of Canada (RY)

Royal Bank of Canada (NYSE:RY) ranks among the best diversified bank stocks to invest in right now. On August 14, Barclays maintained its Overweight rating on Royal Bank of Canada (NYSE:RY) shares and increased its price target from C$182 to C$190. Given a decrease in losses on performing loans and an increase in net interest income, the firm estimates that Canadian banks will post better sequential results in Q3.

The firm also predicts that worries about tariffs and mortgage renewals will continue, irrespective of the banks restating their 2025 outlooks.

The Royal Bank of Canada (NYSE:RY), one of Canada’s largest banks by assets, is a multinational financial services company that provides corporate banking, wealth management, insurance, capital markets, and personal and commercial banking. The bank is mostly focused on Canada, while it also operates in the United States and other nations.

While we acknowledge the potential of RY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RY and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.