Bernstein analyst Richard Clarke raised the firm’s price target on Royal Caribbean (RCL) to $360 from $290 and keeps an Outperform rating on the shares. The firm says that Royal Caribbean has emerged from its “pandemic cocoon” a transformed business. Operating margins by the end of 2025 will be 8.3% above 2019 levels, company defined ROIC hit 16.1% in 2024, significantly above Royal Caribbean’s cost of capital, while consensus is now forecasting a high teens return on capital in the medium term.
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