Royal Bank of Canada (NYSE:RY) is one of the best cheap stocks to buy for beginners. On September 5, CIBC downgraded Royal Bank of Canada (NYSE:RY) to Neutral from Outperform, keeping the price target the same at C$208. The analyst noted that the firm considers consensus estimates for the sector “conservative”, and believes that the Canadian banks can continue to beat expectations.
However, Matthew Lee from Canaccord Genuity maintained a Buy rating on Royal Bank of Canada on September 4, keeping the price target at C$219.00. Royal Bank of Canada has an analyst consensus of Strong Buy.
Royal Bank of Canada provides banking and financial services. The company’s operations are divided into the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Capital Markets, and Corporate Support.
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This article is originally published at Insider Monkey.
