On August 3, Royal Caribbean Cruises rose 3.05% in pre-market trading, trading at $327.23/share, with turnover of $524,000.

On the news front, following a strong Q2 earnings beat, multiple Wall Street institutions raised their target prices in quick succession. Citi lifted its target from $327 to $362 while maintaining a Buy rating, Susquehanna raised to $372 with a Positive rating, and Wells Fargo raised to $388 while maintaining an Overweight rating. The upgrades were driven by record-high booking prices, volumes surpassing year-ago levels, and robust 2027 booking trends tracking well ahead of historical norms.

In Q2, the company reported total revenue of approximately $4.832 billion, up 6.48% year-over-year, and raised its full-year adjusted EPS guidance to $17.73-$17.87, above the FactSet consensus estimate of $17.32. Management also outlined capacity growth of 4%, 6%, and 7% for 2027-2029 respectively. Sector peer Carnival rose 3.13% on the same day, reflecting broad cruise sector strength.

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