Citi analyst James Hardiman raised the firm’s price target on Royal Caribbean to $253 from $204 and keeps a Buy rating on the shares. The analyst also added a “90-day positive catalyst watch” on the shares. The firm expects Royal to announce a new long-term plan within the next two quarters, likely in conjunction with its Q3 or Q4 earnings report. Citi sees no reason that the company can’t achieve $20 per share in earnings. “While this would be a bold target at first blush, we do not believe that the building blocks are overly optimistic,” the analyst tells investors. The firm’s analysis and data suggest this growth the recent share rally in the cruise space “has real legs” into 2025 and beyond.
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