Royal Bank of Canada (NYSE:RY) is considered one of the most profitable financial stocks to invest in. Analysts at Canaccord Genuity and Scotiabank have reiterated Buy ratings and raised price targets to C$242. BMO Capital also raised the price target to C$245, praising the bank’s strategy and AI investments expected to generate $700 million to $1 billion in benefits.

Royal Bank of Canada (NYSE:RY) operates through five segments, including Personal Banking and Capital Markets, and was founded in 1864. While RY is a solid investment, some AI stocks may offer greater upside potential. A free report on the best short-term AI stock is available for investors seeking opportunities in the market.

Investors interested in RY should consider the bank’s strong performance and AI investments. The successful integration of HSBC Canada has strengthened RY’s position in Canadian retail and commercial banking. For a more undervalued AI stock with potential benefits from current economic trends, explore the free report on the best short-term AI stock.

Read more at Yahoo Finance: Royal Bank of Canada (RY) Earns Fresh Buy Ratings