Fintel reports that on September 19, 2023, Truist Securities upgraded their outlook for Royal Caribbean Group (NYSE:RCL) from Hold to Buy.

Analyst Price Forecast Suggests 28.39% Upside

As of August 31, 2023, the average one-year price target for Royal Caribbean Group is 123.15. The forecasts range from a low of 83.83 to a high of $145.95. The average price target represents an increase of 28.39% from its latest reported closing price of 95.92.

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The projected annual revenue for Royal Caribbean Group is 12,882MM, an increase of 7.30%. The projected annual non-GAAP EPS is 3.34.

What is the Fund Sentiment?

There are 1313 funds or institutions reporting positions in Royal Caribbean Group. This is an increase of 148 owner(s) or 12.70% in the last quarter. Average portfolio weight of all funds dedicated to RCL is 0.17%, an increase of 24.04%. Total shares owned by institutions increased in the last three months by 4.87% to 251,281K shares. The put/call ratio of RCL is 2.39, indicating a bearish outlook.

What are Other Shareholders Doing?

Capital International Investors holds 29,672K shares representing 11.58% ownership of the company. In it’s prior filing, the firm reported owning 28,631K shares, representing an increase of 3.51%. The firm increased its portfolio allocation in RCL by 54.41% over the last quarter.

Capital Research Global Investors holds 28,267K shares representing 11.03% ownership of the company. In it’s prior filing, the firm reported owning 28,719K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in RCL by 46.82% over the last quarter.

AGTHX – GROWTH FUND OF AMERICA holds 20,146K shares representing 7.86% ownership of the company. In it’s prior filing, the firm reported owning 19,970K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in RCL by 9.78% over the last quarter.

AIVSX – INVESTMENT CO OF AMERICA holds 16,816K shares representing 6.56% ownership of the company. In it’s prior filing, the firm reported owning 16,388K shares, representing an increase of 2.55%. The firm increased its portfolio allocation in RCL by 51.53% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 6,769K shares representing 2.64% ownership of the company. In it’s prior filing, the firm reported owning 6,714K shares, representing an increase of 0.81%. The firm increased its portfolio allocation in RCL by 47.77% over the last quarter.

Royal Caribbean Group Background Information
(This description is provided by the company.)

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group, is a cruise vacation company that owns four global brands: Royal Caribbean International, Celebrity Cruises, Azamara and Silversea. Royal Caribbean Group is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, our brands operate 61 ships with an additional 15 on order as of December 21, 2020.

This article originally appeared on Fintel

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