Royal Bank of Canada Stock Recommendations and Price Targets

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada. The Wealth Management segment offers a comprehensive suite of investment, trust, banking, credit, and other wealth management solutions to institutional and individual clients through its distribution channels and third-party distributors. The Insurance segment refers to a range of life, health, home, auto, travel, wealth, group, and reinsurance products. The Investor and Treasury Services segment comprises of asset services and a provider of cash management, transaction banking, and treasury services to institutional clients worldwide. The Capital Markets segment covers banking, finance and capital markets to corporations, institutional investors, asset managers, governments, and central banks around the world. The Corporate Support segment consists of technology and operations services. The company was founded

This is a list of recent ratings by Royal Bank of Canada.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
3/24/2023	LEGN Legend Biotech	Initiated Coverage	$46.00	$73.00	Outperform	Low
3/24/2023	WFC Wells Fargo & Company	Lower Price Target	$36.00	$45.00 ➝ $42.00	Sector Perform	Low
3/24/2023	USB U.S. Bancorp	Lower Price Target	$35.00	$55.00 ➝ $49.00	Outperform	Low
3/24/2023	TFC Truist Financial	Lower Price Target	$33.00	$60.00 ➝ $54.00	Outperform	Low
3/24/2023	PNC The PNC Financial Services Group	Lower Price Target	$124.00	$185.00 ➝ $167.00	Outperform	Low
3/24/2023	GS The Goldman Sachs Group	Lower Price Target	$313.00	$370.00 ➝ $339.00	Sector Perform	Low
3/24/2023	BK Bank of New York Mellon	Lower Price Target	$43.00	$49.00 ➝ $44.00	Sector Perform	Low
3/24/2023	STT State Street	Lower Price Target	$72.00	$85.00 ➝ $80.00		Low
3/24/2023	BPOP Popular	Lower Price Target	$54.00	$74.00 ➝ $64.00		Low
3/24/2023	NTRS Northern Trust	Lower Price Target	$83.00	$95.00 ➝ $87.00		Low
3/24/2023	MS Morgan Stanley	Lower Price Target	$84.00	$90.00 ➝ $80.00	Sector Perform	Low
3/24/2023	MTB M&T Bank	Lower Price Target	$115.00	$190.00 ➝ $183.00	Outperform	Low
3/24/2023	KEY KeyCorp	Lower Price Target	$12.00	$22.00 ➝ $19.00	Outperform	Low
3/24/2023	JPM JPMorgan Chase & Co.	Lower Price Target	$125.00	$150.00 ➝ $132.00	Outperform	Low
3/24/2023	FITB Fifth Third Bancorp	Lower Price Target	$25.00	$42.00 ➝ $36.00	Outperform	Low
3/24/2023	C Citigroup	Lower Price Target	$43.00	$55.00 ➝ $51.00	Outperform	Low
3/24/2023	BAC Bank of America	Lower Price Target	$27.00	$40.00 ➝ $34.00	Outperform	Low
3/24/2023	DRI Darden Restaurants	Boost Price Target	$153.00	$160.00 ➝ $165.00	Outperform	Low
3/24/2023	CFG Citizens Financial Group	Lower Price Target	$31.00	$55.00 ➝ $48.00	Outperform	Low
3/24/2023	BSY Bentley Systems	Reiterated Rating	$41.00	$47.00	Outperform	Low
3/24/2023	GDS GDS	Boost Price Target	$19.00	$15.00 ➝ $17.00	Sector Perform	Low
3/24/2023	ACN Accenture	Boost Price Target	$272.00	$335.00 ➝ $340.00	Outperform	Low
3/24/2023	FDS FactSet Research Systems	Reiterated Rating	$399.00	$500.00	Outperform	Low
3/24/2023	BDRBF Bombardier	Boost Price Target	C$48.00	C$89.00 ➝ C$100.00		Low
3/24/2023	CPLFF Copperleaf Technologies	Lower Price Target	C$4.00	C$8.00 ➝ C$7.00		N/A
3/24/2023	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$65.00	C$89.00 ➝ C$100.00	Outperform	N/A
3/24/2023	CPLF Copperleaf Technologies	Lower Price Target	C$5.00	C$8.00 ➝ C$7.00	Outperform	N/A
3/24/2023	GUD Knight Therapeutics	Lower Price Target	C$4.00	C$7.50 ➝ C$6.50		N/A
3/24/2023	STLC Stelco	Set Price Target	C$52.00	C$52.00	Sector Perform	N/A
3/24/2023	CRM Salesforce	Reiterated Rating	$190.00	$225.00	Outperform	Low
3/24/2023	SM SM Energy	Reiterated Rating	$26.00	$50.00	Sector Perform	Low
3/24/2023	RF Regions Financial	Lower Price Target	$18.00	$25.00 ➝ $23.00	Outperform	Low
3/24/2023	PAA Plains All American Pipeline	Boost Price Target	$12.00	$13.00 ➝ $14.00	Sector Perform	Low
3/24/2023	GIS General Mills	Reiterated Rating	$85.00	$76.00	Sector Perform	Low
3/24/2023	APTO Aptose Biosciences	Reiterated Rating	$1.00	$5.00	Outperform	Low
3/24/2023	FTS Fortis	Reiterated Rating	$41.00	$65.00	Sector Perform	Low
3/23/2023	PHR Phreesia	Boost Price Target	$32.00	$26.00 ➝ $33.00	Sector Perform	Low
3/23/2023	WOOF Petco Health and Wellness	Lower Price Target	$8.00	$14.00 ➝ $10.00	Outperform	Low
3/23/2023	KBH KB Home	Boost Price Target	$40.00	$34.00 ➝ $37.00	Sector Perform	Low
3/23/2023	AGF.B AGF Management	Lower Price Target	C$8.00	C$9.50 ➝ C$9.00	Sector Perform	N/A
3/23/2023	BYD Boyd Group Services	Boost Price Target	C$211.00	C$227.00 ➝ C$250.00	Outperform	N/A
3/23/2023	BN Brookfield	Lower Price Target	C$41.00	C$54.00 ➝ C$51.00	Outperform	N/A
3/23/2023	ECN ECN Capital	Lower Price Target	C$3.00	C$4.00 ➝ C$3.50	Sector Perform	N/A
3/23/2023	AGFMF AGF Management	Lower Price Target	C$6.00	C$9.50 ➝ C$9.00		Low
3/23/2023	AEGXF Aecon Group	Boost Price Target	C$10.00	C$12.00 ➝ C$15.00		Low
3/23/2023	BYDGF Boyd Group Services	Boost Price Target	C$152.00	C$227.00 ➝ C$250.00		Low
3/23/2023	ECNCF ECN Capital	Lower Price Target	C$2.00	C$4.00 ➝ C$3.50		Low
3/23/2023	CTEC ConvaTec Group	Reiterated Rating	GBX 219	GBX 215	Sector Perform	N/A
3/23/2023	OSB OSB Group	Reiterated Rating	GBX 454	GBX 750	Outperform	N/A
3/23/2023	SCTL Societal CDMO	Initiated Coverage	$1.00	$2.00	Outperform	Low
3/23/2023	BN Danone	Set Price Target	€56.00	€70.00		N/A
3/22/2023	G24 Scout24	Set Price Target	€55.00	€79.00		N/A
3/22/2023	AUKNY Auckland International Airport	Upgrade	$28.00		Sector Perform ➝ Outperform	Low
3/22/2023	SBSW Sibanye Stillwater	Upgrade	$8.00	$11.00 ➝ $10.00	Sector Perform ➝ Outperform	Low
3/22/2023	BB BlackBerry	Lower Price Target	$4.00	$4.50 ➝ $4.25	Sector Perform	Low
3/22/2023	ADBE Adobe	Boost Price Target	$375.00	$395.00 ➝ $415.00	Outperform	Low
3/22/2023	AIR AAR	Boost Price Target	$55.00	$55.00 ➝ $58.00	Outperform	Low
3/22/2023	HQY HealthEquity	Reiterated Rating	$56.00	$75.00	Outperform	Low
3/22/2023	ENTA Enanta Pharmaceuticals	Reiterated Rating	$40.00	$54.00	Sector Perform	Low
3/22/2023	CPE Callon Petroleum	Reiterated Rating	$31.00	$60.00	Outperform	Low
3/22/2023	BLU BELLUS Health	Reiterated Rating	$8.00	$21.00	Outperform	Low
3/22/2023	ROP Roper Technologies	Reiterated Rating	$430.00	$528.00	Outperform	Low
3/22/2023	XENE Xenon Pharmaceuticals	Reiterated Rating	$35.00	$51.00	Outperform	Low
3/22/2023	ETNB 89bio	Boost Price Target	$16.00	$27.00 ➝ $36.00	Outperform	N/A
3/22/2023	ARE Aecon Group	Boost Price Target	C$13.00	C$12.00 ➝ C$15.00	Sector Perform	N/A
3/22/2023	BB BlackBerry	Lower Price Target	C$5.00	C$4.50 ➝ C$4.25	Sector Perform	N/A
3/22/2023	SHEL Shell	Set Price Target	GBX 2,200	GBX 2,900		N/A
3/21/2023	DOOO BRP	Initiated Coverage	$76.00		Outperform	Low
3/21/2023	G1A GEA Group Aktiengesellschaft	Set Price Target	€42.00	€31.00		N/A
3/21/2023	PII Polaris	Boost Price Target	$107.00	$108.00 ➝ $115.00	Sector Perform	Low
3/21/2023	GRPH Graphite Bio	Lower Price Target	$2.00	$4.00 ➝ $3.00	Sector Perform	Low
3/21/2023	DOO BRP	Boost Price Target	C$104.00	C$124.00 ➝ C$137.00	Outperform	N/A
3/21/2023	ESP Empiric Student Property	Boost Price Target	GBX 84	GBX 97 ➝ GBX 100	Sector Perform	N/A
3/21/2023	RTO Rentokil Initial	Boost Price Target	GBX 566	GBX 645 ➝ GBX 670	Outperform	N/A
3/21/2023	EOAN E.On	Set Price Target	€11.00	€10.75		N/A
3/20/2023	VNA Vonovia	Set Price Target	€17.00	€37.00		N/A
3/20/2023	VOW3 Volkswagen	Set Price Target	€119.00	€221.00		N/A
3/20/2023	REGN Regeneron Pharmaceuticals	Lower Price Target	$820.00	$806.00 ➝ $802.00		Low
3/20/2023	APR.UN Automotive Properties Real Est Invt TR	Boost Price Target	C$12.00	C$11.75 ➝ C$12.50	Sector Perform	N/A
3/20/2023	MRD Melcor Developments	Boost Price Target	C$11.00	C$13.00 ➝ C$14.00	Sector Perform	N/A
3/20/2023	MODVF Melcor Developments	Boost Price Target	C$8.00	C$13.00 ➝ C$14.00		N/A
3/20/2023	QUILF Quilter	Lower Price Target	GBX 1	GBX 140 ➝ GBX 125		Low
3/17/2023	QLT Quilter	Lower Price Target	GBX 83	GBX 140 ➝ GBX 125	Outperform	N/A
3/17/2023	MC LVMH Moët Hennessy - Louis Vuitton, Société Européenne	Set Price Target	€813.00	€890.00		N/A
3/17/2023	KER Kering	Set Price Target	€580.00	€700.00		N/A
3/17/2023	NKE NIKE	Set Price Target	$121.00	$145.00	Outperform	Low
3/17/2023	PUM Puma	Set Price Target	€52.00	€73.00		N/A
3/17/2023	ADS adidas	Set Price Target	€141.00	€130.00		N/A
3/17/2023	COOK Traeger	Reiterated Rating	$4.00	$3.00	Sector Perform	Low
3/17/2023	SRPT Sarepta Therapeutics	Lower Price Target	$130.00	$226.00 ➝ $200.00	Outperform	Low
3/17/2023	NOG Northern Oil and Gas	Reiterated Rating	$28.00	$46.00	Outperform	Low
3/17/2023	NCR NCR	Reiterated Rating	$22.00	$32.00	Outperform	Low
3/17/2023	WSM Williams-Sonoma	Lower Price Target	$118.00	$151.00 ➝ $143.00	Outperform	Low
3/17/2023	LEN Lennar	Boost Price Target	$104.00	$76.00 ➝ $85.00	Underperform	Low
3/17/2023	MSFT Microsoft	Reiterated Rating	$281.00	$285.00	Outperform	Low
3/17/2023	GOCO GoHealth	Lower Price Target	$15.00	$15.00 ➝ $14.00	Sector Perform	Low
3/17/2023	AJG Arthur J. Gallagher & Co.	Reiterated Rating	$186.00	$225.00	Outperform	Low
3/17/2023	PBH Prestige Consumer Healthcare	Lower Price Target	$62.00	$107.00 ➝ $104.00	Sector Perform	Low
3/17/2023	ANCTF Alimentation Couche-Tard	Boost Price Target	C$47.00	C$82.00 ➝ C$85.00		Low
3/17/2023	CFWFF Calfrac Well Services	Lower Price Target	C$3.00	C$8.50 ➝ C$8.00		Low