Susquehanna Analyst Raises Price Target on Royal Caribbean Cruises

Susquehanna's Christopher Stathoulopoulos raised their price target on Royal Caribbean Cruises (NYSE: RCL) by 6.7% from $150 to $160 on 2024/04/26. The analyst maintained their Strong Buy rating on the stock.

Stathoulopoulos cited Royal Caribbean's first-quarter 2024 earnings report, which was released on April 25, as the catalyst for their decision. The company once again increased its full-year 2024 earnings per share (EPS) guidance, leading Stathoulopoulos to believe that Royal Caribbean's "continued execution on its Trifecta Plan," a successful 2024 Wave Season, the implementation of new technology, and the private destinations initiative all contribute to the positive outlook for the company's shares.

Other analysts also revised their ratings for Royal Caribbean on April 26:

- Wells Fargo's Daniel Politzer raised their price target by 3.9% from $153 to $159 while maintaining a Strong Buy rating on the stock. - Mizuho's Ben Chaiken increased their price target by 2.4% from $164 to $168 and also maintained a Strong Buy rating on the stock. - Barclays's Brandt Montour raised their price target by 7.1% from $154 to $165 and held onto their Strong Buy rating.

These updates indicate the positive sentiment among top-rated analysts towards Royal Caribbean. Currently, 100% of the top-rated analysts rate the stock as a Strong Buy or Buy, with no analysts recommending a Hold, Sell, or Strong Sell.

In terms of stock performance, Royal Caribbean has seen a 1.1% increase in its stock price since its last quarterly report on March 31, 2024. Year-over-year, the stock has soared by an impressive 136%. These figures demonstrate Royal Caribbean's outperformance compared to the broader market, with the S&P 500 only showing a 25.7% increase during the same period.

WallStreetZen ranks Susquehanna analyst Christopher Stathoulopoulos in the top 10% of all 4,566 Wall Street analysts. Stathoulopoulos boasts an average return of 12.8% and an impressive win rate of 60.9%. The analyst specializes in the Industrials sector, further establishing their expertise in the field.

Royal Caribbean Cruises Ltd., headquartered in Miami, FL, operates three major cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. With a fleet of 61 ships, the company has been in operation since 1968.

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