Truist Securities Upgrades Royal Caribbean

By 247patrick Updated Sep 20, 9:58AM EDT · Published Sep 19, 11:55PM EDT

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Truist Securities Upgrades Royal Caribbean — © ALEXIUZ / Getty Images

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.

See our leaderboard of companies with the largest price target upside.

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