The firm said it raised its rating on the cruise operator based on the company's valuation and expectations that Royal Caribbean will benefit from new ship introductions, which should drive growth in the China and Asia Pacific regions.
JPMorgan has upped its price target to $90 from $83 on Royal Caribbean stock.
Shares of Royal Caribbean are up by 1.70% to $77.01 at the start of trading this morning.
Miami, FL.-based Royal Caribbean operates cruises using a variety of brand names including Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France. The company also has a 50% joint venture with TUI Cruises.
Separately, TheStreet Ratings team rates ROYAL CARIBBEAN CRUISES LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ROYAL CARIBBEAN CRUISES LTD (RCL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."