Royal Caribbean price target raised to $330 from $290 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Royal Caribbean (RCL) to $330 from $290 and keeps an Equal Weight rating on the shares. The firm, which thinks Royal “remains the most impressive of the large ocean cruise lines,” sees its superior sea and land product, strong cost control and heavy capex driving EPS to nearly double FY25-30 to greater than $30. However, near-term yield momentum is slowing and the firm’s “wave” channel checks are mixed, adds the analyst, who argues that last week’s 19% stock price jump “looks overdone.”