BofA analyst Andrew Didora raised the firm’s price target on Royal Caribbean to $135 from $126 and keeps a Neutral rating on the shares following a “solid” Q4 report and 2024 EPS guidance of $9.50-$9.70 that exceeded the firm’s and consensus estimates. While some investors were concerned about a second half of 2024 slowdown in yields, the firm notes it had factored this into its model as trends normalize against tough pandemic recovery comps.
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Read More on RCL:
- Royal Caribbean (NYSE:RCL) Gains on Buoyant Q4 Performance
- Options Volatility and Implied Earnings Moves Today, February 01, 2024
- Royal Caribbean sees FY24 adjusted EPS $9.50-$9.70, consensus $9.19
- Royal Caribbean reports Q4 EPS $1.25, consensus $1.13
- ROYAL CARIBBEAN GROUP REPORTS 2023 RESULTS AND EXPECTS RECORD EARNINGS IN 2024 ON STRONG DEMAND
