As previously reported, Morgan Stanley analyst Jamie Rollo upgraded Royal Caribbean (RCL) to Equal Weight from Underweight with a price target of $50, up from $40. In conjunction with the same report on the cruise lines, Morgan Stanley analyst Stephen Grambling downgraded Norwegian Cruise Line (NCLH) to Underweight from Equal Weight with a $11.50 price target after assuming coverage of the name. Heading into the important "Wave Season" peak booking period, the firm’s channel checks remain mixed and they remain concerned about overcapacity dampening pricing power, the analysts tell investors. Royal has proved itself to be the superior cruise operator in returning to normal operations coming out of the pandemic, Rollo argues.
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Published first on TheFly
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