Argus raised the firm’s price target on Royal Caribbean to $178 from $172 and keeps a Buy rating on the shares. The high cruise occupancy of 107% seen in Q1 points to a demand recovery and is likely to result in stronger-than-anticipated revenue and earnings for the company, the analyst tells investors in a research note. Argus adds that it expects margins to strengthen while also calling for new Royal Caribbean ships to launch over the next 12 months.
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