Morgan Stanley analyst Jamie Rollo raised the firm’s price target on Royal Caribbean (RCL) to $154 from $140 and keeps an Equal Weight rating on the shares. Examining the cruise lines bull and bear cases, the firm concludes that while some factors have changed for the better post-pandemic, others have changed for the worse and it calls the sector “a late cycle play with high gearing.” Royal enjoys structural advantages over Carnival (CCL) and Norwegian Cruise Line (NCLH) that make it the firm’s continued “preferred play,” the analyst tells investors.
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Read More on RCL:
- Royal Caribbean added to Analyst Focus List at JPMorgan
- Royal Caribbean price target raised to $210 from $155 at Tigress Financial
- Royal Caribbean put volume heavy and directionally bearish
- Royal Caribbean price target raised to $189 from $165 at Macquarie
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