Movement Alert｜Royal Caribbean Cruises Rises 3.1% in Regular Trading, Analyst Upgrades Fuel Optimism in Cruise Sector

Market Focus10-06 21:38

On October 6, Royal Caribbean Cruises rose 3.1% in regular trading, trading at $282.716 per share, with turnover of $21.00 million.

BofA Securities and Deutsche Bank simultaneously upgraded their ratings, citing that the prior 26% pullback from August 5 was overdone and that current valuation has become attractive. BofA lifted the stock to Buy from Neutral with a $330 price target, while Deutsche Bank also assigned a Buy rating with a $299 target. Analysts view the cruise operator as well-positioned with potential for further EBITDA growth despite macro risks.

The broader Hotels, Resorts & Cruise Lines sector traded actively, with Carnival up 3.19%, Norwegian Cruise Line up 3.60%, Expedia up 1.31%, Booking Holdings up 0.53%, and Airbnb down 0.09%.

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