JPMorgan raised the firm’s price target on Royal Caribbean (RCL) to $243 from $213 and keeps an Overweight rating on the shares. The company reported a Q3 “beat and raise” with a core Q4 earnings guidance 6% above the Street, the analyst tells investors in a research note. The firm sees earnings per share upside of $14.55-$15.00 in 2025. Management said consumer spending onboard, as well as pre-cruise purchases, continue to significantly exceed 2023 levels driven by greater participation at higher rates, JPMorgan points out.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RCL:
- Morning Movers: McDonald’s lower, Pfizer higher after earnings releases
- Royal Caribbean ups FY24 adjusted EPS view to $11.57-$11.62 from $11.35-$11.45
- Royal Caribbean reports Q3 adjusted EPS $5.20, consensus $5.03
- Notable companies reporting before tomorrow’s open
- Royal Caribbean Cruises (RCL) Q3 Earnings Cheat Sheet