Macquarie raised the firm’s price target on Royal Caribbean to $160 from $145 and keeps an Outperform rating on the shares. The company raised its fiscal 2024 guidance in late February on strong Wave, expecting adjusted earnings to hit double-digits at midpoint, the analyst tells investors in a research note. The firm sees Royal as “best-in-class” and making good on operating leverage post-COVID. It cites strength in demand and onboard for the higher target.
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