Why Royal Caribbean Stock Crushed it in October
Investors were more than eager to hop aboard Royal Caribbean 's (NYSE:RCL) stock last month. The cruise company had fine potential going into its peak summer sailing season and took full advantage, as evidenced by its strong third-quarter results published near the end of the month. That was bookended by new, upbeat analyst takes, and the combination of these positive factors sent the stock to a monthly gain of nearly 16%. In the run-up to that earnings release, which occurred four days shy of Halloween, several prognosticators made bullish adjustments to their Royal Caribbean takes. The most meaningful change came from Jefferies (NYSE:JEF) , which upgraded its recommendation on the stock to buy from hold. It also lifted its price target to $330 per share from $305. Image source: Getty Images. Continue reading