BofA raised the firm’s price target on Royal Caribbean (RCL) to $355 from $230 and keeps a Neutral rating on the shares. Cruise line stocks have “meaningfully” outperformed the market and other travel stocks, returning 72% on average since the market trough on April 8, the analyst noted. The firm, which expects positive commentary from cruise lines this earnings season, increased its targets across the group as it rolls valuations to 2026 and increased multiples after the recent re-rating.
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:
- Royal Caribbean price target raised to $300 from $230 at Morgan Stanley
- Strong Performance and Positive Outlook Justify Buy Rating for Royal Caribbean
- Netflix downgraded, Intel initiated: Wall Street’s top analyst calls
- Royal Caribbean initiated with a Buy at TD Cowen
- Verizon reports Q2 beat, Block to join S&P 500: Morning Buzz