Royal Caribbean Cruises Ltd (NYSE:RCL) reported its fourth-quarter earnings in line with expectations, while indicating further acceleration in momentum into 2026, according to JPMorgan analyst Matthew Boss.

The Royal Caribbean Cruises Analyst: Boss reiterated an Overweight rating, while raising the price target from $357 to $368.

The Royal Caribbean Cruises Thesis: The company reported adjusted earnings of $2.80 per share for the fourth quarter, in-line with Street expectations, driven by net-yield growth of 2.5% on a constant-currency basis, Boss said in the note.

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He added that Royal Caribbean Cruises reported net yield growth of 3.1% reported, driven by: