Royal Caribbean upgraded to Neutral from Underperform at BofA

BofA analyst Andrew Didora upgraded Royal Caribbean to Neutral from Underperform with a price target of $78, up from $40. The Wave booking season for cruise lines that goes from January to March is off to a solid start, the analyst tells investors in a research note. BofA’s survey shows Royal’s pricing is more robust than peers and the company has largely addressed its balance sheet risk, the analyst adds. The firm now sees a more balanced risk/reward in the shares.