Citi analyst James Hardiman raised the firm’s price target on Royal Caribbean (RCL) to $332 from $328 and keeps a Buy rating on the shares. Citi also opened a “downside 30-day short-term view” on Royal Caribbean. The firm expects “conservative” outlooks from the cruise names during the Q4 earnings season. Indicators show the demand environment has either decelerated or the supply environment in the Caribbean market has “gotten crowded,” or some combination of both, the analyst tells investors in a research note. Citi thinks Royal’s fiscal 2025 yield guidance is likely to miss Street estimates.
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