BofA Raises its Price Target on Royal Bank of Canada (RY)

Royal Bank of Canada (NYSE:RY) is one of the 12 Undervalued Financial Stocks to Buy Now.

On May 19, 2026, BofA analyst Ebrahim Poonawala raised the firm’s price target on Royal Bank of Canada (NYSE:RY) to C$273 from C$271 previously and maintained a Buy rating on the shares.

Scotiabank analyst Mike Rizvanovic also raised the firm’s price target on Royal Bank of Canada (NYSE:RY) to C$252 from C$247 previously and maintained an Outperform rating on the shares.

BofA Raises its Price Target on Royal Bank of Canada (RY)

Meanwhile, on May 12, 2026, Raymond James has downgraded Royal Bank of Canada (NYSE:RY) to Market Perform from Outperform with a price target of C$265.50, up from C$248, ahead of Q2 earnings for the Big 6 Canadian banks. Raymond James said it continues to view RBC as “a scaled, diversified franchise with a lower-volatility earnings profile,” but noted that those same attributes may limit relative upside in a stronger trading revenue environment. The firm added that RBC’s greater exposure to rates and credit trading may benefit it less than its peers.

Royal Bank of Canada (NYSE:RY) operates as a diversified financial service company worldwide.

While we acknowledge the risk and potential of RY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RY and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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