Truist Securities Upgrades Royal Caribbean Cruises (RCL) to Buy, 'Hot trends + cooled stocks = Back on Bull train'

(Updated - September 19, 2023 6:46 AM EDT)

Truist Securities analyst C. Patrick Scholes upgraded Royal Caribbean Cruises (NYSE: RCL) from Hold to Buy, PT $137.00 (from $115.00).

The analyst comments " Raising to Buy from Hold with Price Target to $137 from $115. Last fall at its investor day the company targeted EPS of at least $10 in 2025 and since that time the company has had two massive beat & raise earnings reports. Subsequently we now think “$12 of EPS in 2025” is the new “$10 of EPS in 2025”. We are raising our 2024 EPS to $9.10 from $7.14 and 2025 to $11.95 from $10.10, both years well above consensus expectations. Our target valuation multiple of 12x P/E on 2025 EPS is unchanged."

For an analyst ratings summary and ratings history on Royal Caribbean Cruises click here. For more ratings news on Royal Caribbean Cruises click here.

Shares of Royal Caribbean Cruises closed at $95.92 yesterday.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
• Deere (DE) PT Lowered to $570 at JPMorgan Ahead of Earnings