Citi raised the firm’s price target on Royal Caribbean to $133 from $127 and keeps a Buy rating on the shares after spending time with management. Royal remains arguably the best company in Citi’s leisure coverage, the analyst tells investors in a research note. The firm thinks the shares are “favorably valued headed into an unpredictable 2024,” and it likes Royal’s ability to finish out 2023 on a strong note and put 2024 guidance in a place that both satisfies investors initially and still positions the company to modestly exceed expectations going forward.
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