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One cruise line stock reigns supreme right now, according to JPMorgan.

The investment bank upgraded its rating on Royal Carribbean (RCL) - Get Royal Caribbean Group Report to overweight from neutral on Friday with a $130 price target. Analysts are bullish on Royal Carribbean's near-term outlook and relatively cheap valuation. They believe the company is better balanced relative to rivals Carnival Cruise Line (CCL) - Get Carnival Corporation Report and Norwegian Cruise Line (NCLH) - Get Norwegian Cruise Line Holdings Ltd. Report .

Wall Street has good reason to believe Royal Carribbean's financials this year will be rather buoyant.

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Higher stock prices, strong employment gains and overall confidence in the economy are likely to power Royal Caribbean to a strong vacation season, chairman and CEO Richard Fain told TheStreet in an interview in June. The plunge in crude oil should also help the bottom line, too.

"There seems to be enthusiasm in the public, confidence that this is here to stay -- this is probably the best tone in the market I have seen in 29 years," Fain said.

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