Royal Caribbean price target raised to $78 from $67 at Wells Fargo

Wells Fargo analyst Daniel Politzer raised the firm’s price target on Royal Caribbean to $78 from $67 and keeps an Overweight rating on the shares. The firm notes Royal Caribbean reported a solid Q4 with full year 2023 guidance that leaves room for upside, assuming strong booking trends continue. At current levels, valuation/future catalysts are becoming more common topics, but Wells thinks Royal Caribbean can go higher.