Citi raised the firm’s price target on Royal Caribbean (RCL) to $304 from $283 and keeps a Buy rating on the shares. The firm says that on the strength of a “significantly” better than expected cost outlook, Royal was not only able to meet earnings guidance expectations amid fuel and currency headwinds. However, the announcement of Celebrity’s entrance into the river cruise market further broadens the company’s portfolio of high-return investment opportunities, and further extends the horizon for strong earnings growth, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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:
- Royal Caribbean price target raised to $297 from $272 at Wells Fargo
- Royal Caribbean price target raised to $308 from $287 at Barclays
- Royal Caribbean Group Reports Strong 2024 Results
- Viking impact from Royal entering river market ‘modest,’ says Morgan Stanley
- RCL Earnings: Royal Caribbean Stock Makes Waves as Bookings Hit Record Levels