Royal Caribbean price target raised to $243 from $213 at JPMorgan

JPMorgan raised the firm’s price target on Royal Caribbean (RCL) to $243 from $213 and keeps an Overweight rating on the shares. The company reported a Q3 “beat and raise” with a core Q4 earnings guidance 6% above the Street, the analyst tells investors in a research note. The firm sees earnings per share upside of $14.55-$15.00 in 2025. Management said consumer spending onboard, as well as pre-cruise purchases, continue to significantly exceed 2023 levels driven by greater participation at higher rates, JPMorgan points out.