BMO Capital analyst Tristan Thomas-Martin initiated coverage of Royal Caribbean with an Outperform rating and $370 price target. The firm also names the stock its top pick in the Cruise sector, citing the company both keeping cruisers in its ecosystem and attracting new cruisers. Broader cruise industry tailwinds are favorable, war and oil headwinds are hopefully abating, and valuation "isn't unreasonable", even following a 12% move higher in the past month, the analyst tells investors in a research note.
