CIBC Downgrades Royal Bank of Canada (RY) to Neutral From Outperform

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 (NYSE:RY) on September 4, keeping the price target at C$219.00. Royal Bank of Canada (NYSE:RY) has an analyst consensus of Strong Buy.

Royal Bank of Canada (NYSE:RY) 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.

While we acknowledge the potential of RY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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