Morgan Stanley analyst Jamie Rollo raised the firm’s price target on Royal Caribbean to $100 from $70 and keeps an Equal Weight rating on the shares. The firm’s channel checks “echo positive commentary” from the cruise lines, but the firm notes that Royal Caribbean is the only line to see FY23 revenue yield guidance improve year-to-date. Coupled with new fuel hedges, this leads to another 30% EPS upgrade that drives the firm’s increased price target, the analyst tells investors.
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