Morgan Stanley raised the firm’s price target on Royal Caribbean (RCL) to $210 from $190 and keeps an Equal Weight rating on the shares. The firm is increasing the multiples it uses in its valuation framework to reflect Royal Caribbean’s stronger growth profile, margins and balance sheet compared to history, adding that its forecasts are unchanged.
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Read More on RCL:
- Royal Caribbean benefiting from strong advance bookings, says Argus
- Royal Caribbean price target raised to $280 from $250 at Argus
- Royal Caribbean price target raised to $287 from $245 at Barclays
- Royal Caribbean price target raised to $283 from $257 at Citi
- Royal Caribbean raises quarterly dividend 38% to 55c per share
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