UPDATE: Morgan Stanley Upgrades Royal Caribbean, Awaiting Inflection Point
In a report published Wednesday, Morgan Stanley analyst Andrea Ferraz upgraded the rating on Royal Caribbean Cruises Ltd. (NYSE: RCL) from Equal-Weight to Overweight, and raised the price target from $37.00 to $49.00.
In the report, Morgan Stanley noted, “Three years of external events have left RCL's underlying revenue yields 6% below peak, but have also triggered a change in culture as management focuses on cost and ROCE. We could be near an inflection point on all these KPIs, with normalised EPS an est. $4.20.”
Royal Caribbean Cruises Ltd. closed on Tuesday at $38.05.
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