The Globe and Mail reports in its Friday, April 5, edition that BMO Nesbitt Burns analyst Sohrab Movahedi has elevated his recommendation for Royal Bank of Canada to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Movahedi gave his share target a $10 boost to $150. Analysts on average target the shares at $142.94. Mr. Movahedi says in a note: "Royal Bank is a premium ROE [return-on-equity] bank, building on its leadership in Canadian banking with its recently closed acquisition of HSBC Canada, and well-positioned to benefit from an anticipated rebound in markets related activities through both its wealth management segment (well-endowed with high net worth and ultra-high net worth clients) and its capital markets division (with a prominence in North America but also global recognition). Our EPS forecasts have Royal Bank growing EPS at peer-leading levels (along with Canadian Imperial Bank of Commerce) in the high-single digits in F25. ... We increase our target forward P/E multiple to 11.0 times (middle of the historical 10–12 times range) from 10.3 times, and commensurately individual bank target prices for the large banks in our coverage."