Royal Bank of Canada (NYSE:RY) is a leading financial institution in Canada, offering a wide range of services including personal and commercial banking, wealth management, and insurance. It competes with other major Canadian banks like Toronto-Dominion Bank and Bank of Montreal. On January 9, 2026, Scotiabank maintained its "Outperform" rating for RY, with the stock priced at $169.46.

Scotiabank also raised its price target for RY from C$231 to C$242, indicating confidence in the bank's future performance. This optimism is supported by RY's participation in the RBC Capital Markets Canadian Bank CEO Conference, where it shared strategies and insights. Such events are crucial for discussing trends and future outlooks in the banking sector.

At the conference, RY likely discussed its financial performance and market strategies, which are key factors in Scotiabank's positive outlook. The stock's current price of $169.79 shows a slight increase of 0.14% or $0.24, with a trading range today between $168.80 and $169.96. This stability reflects investor confidence in the bank's strategies.

RY's market capitalization is approximately $238.54 billion, highlighting its significant presence in the financial sector. The stock has traded 171,538 shares on the NYSE, indicating active investor interest. Over the past year, RY has experienced a high of $174.61 and a low of $106.10, showcasing its resilience in the market.