TD Cowen analyst Kevin Kopelman initiated coverage of Royal Caribbean (RCL) with a Buy rating and $405 price target The firm views the cruise lines are “underappreciated” share gainers in the travel space. The cruise names offer a strong value proposition which will drive long-term share gains, the analyst tells investors in a research note. TD estimates annual revenue growth of 7% for the industry through 2029. It cites Royal’s strong growth and “best-in-class” margins for the Buy rating.
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