Analysts at Argus Research upgraded the cruise company Royal Caribbean Cruises Ltd. (RCL) on Wednesday.
The firm boosted the rating for RCL from “Hold” to “Buy” as the analysts believe that Royal Carribean’s new ships are more valuable than what the market currently reflects.
The price target is $40, a +15.8% increase from Tuesday’s closing price of $34.54.
Royal Caribbean shares were up 18 cents, or +0.52%, in premarket trading on Wednesday.
The Bottom Line
Shares of Royal Caribbean (RCL) have a 1.39% dividend yield, based on last night’s closing stock price of $34.54. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $36-$39 price levels.
Royal Caribbean Cruises Ltd. (RCL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.