Why Royal Caribbean Group Shares Are Rising During Thursday's Session
Portfolio Pulse from Henry Khederian
Shares of Royal Caribbean Cruises Ltd (NYSE:RCL) rose by 3.8% to $125.40, influenced by Carnival Corp's positive Q4 financial results and FY24 guidance. Additionally, Tigress Financial analyst Ivan Feinseth upgraded RCL's price target from $139 to $155. Carnival reported Q4 sales of $5.397 billion, surpassing estimates, with a significant increase in Passenger Cruise Days and a record high in customer deposits.
December 21, 2023 | 7:19 pm
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Royal Caribbean's stock price increased due to positive sector news from Carnival's earnings and an upgraded price target by Tigress Financial.
RCL's stock price is likely to rise in the short term due to the positive sentiment generated by Carnival's better-than-expected earnings, which suggests a healthy demand in the cruise industry. The upgraded price target by Tigress Financial further supports the bullish outlook for RCL.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80