Top PickSecond stock in the clip; he also owns it personally. GLTA
https://www.bnnbloomberg.ca/video/brian-madden-s-top-picks~2585213
Royal Bank of Canada (RY TSX)
Latest purchase Feb 2022 @ $147.12
Royal Bank is one of the ten largest banks in the world and is soon to become significantly larger, pending the completion of the acquisition of HSBC Canada. With a dominant domestic personal and commercial banking franchise, a top ten global capital markets business and the leading Canadian wealth management franchise rounded out with smaller insurance and investor services and treasury businesses Royal has a very solid and well-diversified earnings stream. Royal is well diversified by geography with large-scale businesses in Canada, the U.S. and Europe and in various other global financial centres. The bank is a leader in digital banking and in AI and is using its scale to invest heavily in these drivers of long-term competitive advantage. With a dividend yield of 4.1 per cent and with dividends growing at a nine per cent annual rate over the last decade, we see a highly visible path to ongoing sustainable double-digit returns over a cycle. In fact, the bank has outperformed the S&P TSX Composite in 19 of the last 25 years.
TOP PICK
Royal Bank(RY-T)
14/12/2022 at 07:00pm
7th largest bank in the world, will get bigger with pending acquisition of HSBC Canada. This will up its market share in Canada and increase opportunities for cross-selling internationally. Biggest wealth management player in Canada. Well diversified by line of business and geographically. Dividend grows by high single digits, contributing to good line of sight to low double-digit growth over a cycle. Yield is 4.12%. (Analysts’ price target is $142.34)
Banks
Brian Madden
$127.670
Owned