RBC Q1 2008 Earnings

� RBC was cut from Market Perform to Underperform by BMO Capital Markets� RBC target price was cut from C$58 to C$52 by CIBC World Markets__________________________________________________________ RBC Capital Markets, 3 March 2008RY's Q1/08 GAAP diluted EPS of $0.95 were ahead of our estimate (by $0.06). Core cash EPS was $1.11 versus our estimate of $1.06, which was the same as consensus.�