TD Cowen raised the firm’s price target on Royal Caribbean (RCL) to $38 from $35 and keeps a Buy rating on the shares. The firm adjusted targets in the cruise lines group as part of its 2026 outlook. While Caribbean yield headwinds will make a “tough” earnings season for Royal and Norwegian, underlying cruise demand is strong and capacity trends are favorable through fiscal 2029, the analyst tells investors in a research note. TD sees share upside this year as investors look past “temporary” Caribbean pressures.
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