Morgan Stanley Lifts Price Target to $330 as Royal Caribbean Logs Record Bookings
Morgan Stanley maintained a Mixed rating on Royal Caribbean Cruises and raised its price target from $290 to $330, noting robust institutional interest as Mediolanum International Funds boosted its stake by 164.2% to 25,988 shares worth $8.5 million. RCL achieved its strongest seven-week booking streak ever, with two-thirds of 2026 capacity sold at record prices, signaling durable demand.
1. Morgan Stanley Maintains Mixed Rating and Raises Price Target
On February 3, 2026, Morgan Stanley upheld its “Mixed” rating on Royal Caribbean Cruises Ltd., while lifting the firm’s 12-month price target from $290 to $330. The adjustment reflects an improved outlook on earnings potential as the company integrates new ships and optimizes itineraries. Morgan Stanley cited stronger margin recovery in the back half of 2026, driven by higher onboard spending and narrowing fuel cost gaps relative to peers.
2. Institutional Investors Ramp Up RCL Stakes
Recent SEC filings show Mediolanum International Funds Ltd. increased its position by 164.2%, acquiring an additional 16,151 shares to reach a total holding of 25,988 shares valued at roughly $8.5 million. Smaller investment managers such as 1 North Wealth Services LLC and Evolution Wealth Management Inc. also initiated stakes in the second quarter, each investing about $31,000. These moves underscore growing confidence among institutions in RCL’s long-term growth trajectory.
3. Best-Ever Booking Streak Points to Durable Demand
Royal Caribbean logged its strongest seven-week booking period on record, securing reservations for two-thirds of its 2026 passenger capacity at pricing levels above prior guidance. Management highlighted that average per-day ticket prices rose by mid-single digits compared with the same booking window last year, signaling robust consumer appetite despite broader macroeconomic pressures.