On July 9, Royal Caribbean rose 3.09% in regular trading, trading at $289.63/share, with turnover of $130 million. The stock rebounded sharply following consecutive declines in prior sessions.
On the news front, BMO Capital initiated coverage of Royal Caribbean with a target price of $370, implying approximately 28% upside from the current share price and boosting market sentiment. The bullish initiation comes after the stock had declined over 3% on both July 7 and July 8 amid broader weakness in travel and cruise stocks driven by macro concerns and fuel cost volatility.
The broader cruise sector rallied in tandem, with Norwegian Cruise Line surging 8.04% and Carnival gaining 4.74%. Royal Caribbean operates three major brands — Royal Caribbean International, Celebrity Cruises, and Silversea Cruises — with a fleet of 68 ships and total capacity of approximately 166,900 berths, covering over 1,000 destinations across all seven continents. The company reported Q1 fiscal year net income of $942 million, up 29% year-over-year, with revenue of $4.452 billion, up 11.33%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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