Jefferies upgraded Royal Caribbean International (RCL.N) from "Hold" to "Buy" and raised its price target from $305 to $330; it also raised its price target for Lindbergh Expeditions Holdings (LIND.O) from $29 to $32.
Jefferies stated, "We remain bullish on the long-term prospects of the cruise industry as its share of the global vacation market continues to expand." Jefferies expects strong revenue performance in the industry to provide significant upside potential. Jefferies further stated, "We also believe that the cruise industry is an attractive value investment option across different macroeconomic environments in fiscal year 2027, with land-based tourism products providing additional growth momentum for earnings."
