Royal Caribbean price target raised to $148 from $133 at Citi

Citi raised the firm’s price target on Royal Caribbean (RCL) to $148 from $133 and keeps a Buy rating on the shares. The firm, which is updating its cruise estimates to reflect lower fuel prices, says other recent datapoints on pricing and web traffic “remain nearly unanimously positive for the cruise industry,” while recent meetings with Royal Caribbean and Norwegian Cruise Line (NCLH) management “reinforced the positive commentary across the industry headed into 2024.”