The Globe and Mail reports in its Friday edition that Canaccord analyst Matthew Lee has reaffirmed his "buy" recommendation for Royal Bank of Canada. The Globe's David Leeder writes that Mr. Lee raised his share target to $146 from $142. Analysts on average target the shares at $140.92. Mr. Lee says in a note: "Royal Bank of Canada reported Q1 results [Wednesday] morning with EPS of $2.85 in line with our forecast but above consensus of $2.79. Commentary from management reinforced our constructive outlook on capital markets and a return to profitability at CNB suggests that the business may have reached an inflection point. On the other hand, Royal Bank's PCL profile was slightly above consensus with the firm suggesting that credit in the retail business could remain challenged for the remainder of the year. Nevertheless, we believe Royal Bank's business mix lends itself to delivering top-of-the-industry ROE despite potential economic oscillations. We have raised our capital markets estimates slightly postquarter, offset somewhat by higher PCLs." The Globe reported on Feb. 23 that Jefferies analyst John Aiken started coverage on Royal Bank with an "outperform" recommendation. The shares could then be had for $132.30.