Royal Caribbean price target raised to $420 from $400 at Stifel

Stifel raised the firm’s price target on Royal Caribbean (RCL) to $420 from $400 and keeps a Buy rating on the shares. The firm believes there were “a lot of investors out there looking for any reason to sell this name right now given its massive share outperformance and the hesitancy around its current valuation.” However, it views the post-earnings selloff as an opportunity to “buy into the best management team across the cruise industry and a name that should witness incredible EPS growth through 2028,” the analyst stated.