Argus raised the firm’s price target on Royal Caribbean to $142 from $95 and keeps a Buy rating on the shares. The company’s high cruise occupancy in Q3 points to a demand recovery and is likely to result in stronger-than-anticipated revenue and earnings, the analyst tells investors in a research note. The firm adds that it sees margins strengthening and new ships launching over the next 12 months, boosting its FY24 EPS view on the stock by $1.02 to $9.12.
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