Analysts See Upside in Royal Caribbean’s $20 EPS Target for 2027

Wall Street analysts came away from Royal Caribbean Group’s third quarter results bullish on the company’s outlook, with several suggesting management’s 2027 earnings target may prove conservative.

Royal Caribbean reiterated that it expects 2027 adjusted earnings per share with a $20 handle, the final year of its Perfecta program.

David Katz of Jefferies said that figure looked conservative given 2027 bookings pacing up in the high teens over the past 90 days, heavy fuel costs and no contribution included from the company’s planned Sandals and Beaches Resorts investment.

Jefferies set its 2027 estimate at $20.90 per share, and raised its price target to $350 from $330 while reiterating a buy rating. Katz said business momentum and future growth from Sandals, additional land-based assets and new ship capacity all supported 2028 and beyond, as well as the company’s premium valuation compared to peers.

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