Royal Caribbean price target lowered to $80 from $85 at Susquehanna

Susquehanna analyst Christopher Stathoulopoulos lowered the firm’s price target on Royal Caribbean to $80 from $85 and keeps a Positive rating on the shares. The analyst increased 2023 estimates for Royal citing the strength of the 2023 wave season. However, the firm dropped the price target to reflect more cautious macro sentiment. Royal remains Susquehanna’s top pick for the cruise lines as its view the company’s multi-year "Trifecta Plan" as achievable with its liquidity profile "in relatively good shape."