BofA analyst Andrew Didora raised the firm’s price target on Royal Caribbean (RCL) to $330 from $325 and keeps a Neutral rating on the shares. BofA aggregated credit and debit card data shows monthly cruise spend in December increased 10.5% year-over-year, reports the analyst, who adds that strength in cruise spending continues to stand out compared to other travel categories as total travel spend fell 1.9% year-over-year in December, with airline spend down 4.1% and hotel spend down 2.4%.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RCL:
- The Week That Was, The Week Ahead: Macro & Markets, Dec. 20
- Royal Caribbean, VIPA, CTI sign agreement to redevelop Crown Bay District
- Royal Caribbean price target lowered to $324 from $342 at Barclays
- Positive Outlook for Royal Caribbean Driven by Strong Demand and Strategic Investments
- Royal Caribbean price target lowered to $275 from $286 at Jefferies