What changed
$RY — BUY 📊 | 6 MONTHS THESIS
🎯 latest | Rev $17.4B | EPS $3.90 vs $3.79 🟢
💡 Consensus expects steady but unspectacular earnings growth, with FY2025 EPS around $11.50. Our variant view sees upward revisions to ~$11.80+ driven by strong wealth management and trading revenues, which are not fully priced in at 12.9x trailing earnings.
📉 Reward/risk: 2.1:1
🏢 Business Quality: 8/10 - Diversified franchise with leading market shares in Canadian banking, wealth management, and capital markets; strong capital ratios and 140-year dividend track record.
📊 Valuation: fair - Trailing P/E 12.9x in line with 5-year average; P/TBV 2.8x above peer median, reflecting premium franchise; dividend yield 4.0% provides...
🔮 Catalyst: Analyst EPS upgrades following strong Q3 results; potential dividend increase announcement in next 1-2 months.
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/RY0619