BofA lowered the firm’s price target on Royal Caribbean (RCL) to $95 from $118 and keeps a Neutral rating on the shares ahead of the company reporting Q3 results on October 26. The firm expects Royal to remain positive on demand given Carnival’s (CCL) strong booking commentary, solid airline demand commentary for international and premium products and steady pricing in BofA’s recent survey, the analyst tells investors in a preview note.
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