JPMorgan Upgrades Royal Caribbean on Attractive Valuation
JPMorgan analyst Joseph Greff upgraded Royal Caribbean Cruises (RCL) - Get Royal Caribbean Group Report to "overweight" from "neutral" with a price target of $130, up from $111.
Greff said the valuation for Royal Caribbean remains attractive with an improved ROIC profile and forward checks that appear strong. Recent channel checks suggest a positive outlook with operating momentum, he noted.
The company has a track record of outperforming in the third and fourth quarters relative to both the S&P 500 and its industry peers.
TheStreet Recommends
Greff's $130 price target implies a 13% upside for Royal Caribbean stock, which closed up at $112.56 Wednesday. Royal Caribbean stock has traded up over 37% since the start of the year.
More of What's Trending on TheStreet:
- Carly Fiorina's Advice to Young Women: Don't Let Other People Define You
- 10 Reasons Working From Home Might Be the Wave of the Future
- T-Mobile's John Legere Is Inarguably One of the More Colorful CEOs on Twitter
- Restaurant Brands 36-Year Old CEO Discusses the Burger King Whopper, Amazon's Jeff Bezos
- Amazon Faces a Potential Existential Threat That Could Hammer Its Shares, Doug Kass Reveals
- Game of Thrones Has Become Huge -- Here's How You Can Quickly Tell
