In a report released yesterday, Patrick Scholes from SunTrust Robinson reiterated a Buy rating on Royal Caribbean (NYSE: RCL), with a price target of $150. The company’s shares closed yesterday at $111.69.
According to TipRanks.com, Scholes is a 5-star analyst with an average return of 15.6% and a 68.4% success rate. Scholes covers the Services sector, focusing on stocks such as Wyndham Destinations Inc, Marriott International, and Carnival Corp.
Royal Caribbean has an analyst consensus of Strong Buy, with a price target consensus of $146.40, which is a 31.1% upside from current levels. In a report issued on July 24, Stifel Nicolaus also maintained a Buy rating on the stock with a $150 price target.
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Based on Royal Caribbean’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $466 million. In comparison, last year the company had a net profit of $370 million.
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Royal Caribbean Cruises Ltd. is a global cruise vacation company. It owns and operates global crusie brands, namely Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises. It also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands. The company was founded in 1968 and is headquartered in Miami, FL.
