Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Royal Caribbean, Williams, Wynn Resorts, and Lufax.
Royal Caribbean upgraded to Buy following Q1 beat
Argus upgraded Royal Caribbean Cruises (NYSE:RCL) to Buy from Hold with a price target of $88.00, as reported in real time on InvestingPro.
According to Argus, the company’s reported high cruise occupancy in Q1/23 pointed to a demand recovery. The firm also looks for margins to strengthen and expects new ships to launch over the next 12 months.
Earlier this month, the company reported its Q1 results, beating the consensus estimates. Furthermore, it raised the full 2023 year guidance, expecting EPS of $4.40-$4.80, which is significantly above the consensus of $3.36.
Williams upgraded at Citi
Citi upgraded Williams Companies (NYSE:WMB) to Buy from Neutral with a price target of $36.00, viewing the stock as oversold following YTD underperformance.
With natural gas futures prices down over 50% since late 2022, Citi believes we likely already experienced most of the downside, suggesting asymmetric upside potential, even if not imminent.
2 more upgrades
Wynn Resorts (NASDAQ:WYNN) shares rose more than 2% pre-market after Barclays upgraded the company to Overweight from Equalweight and raised its price target to $135.00 from $120.00.
Last week, the company reported its Q1 results, with EPS and revenues coming in better than the Street estimates.
Macquarie upgraded Lufax (NYSE:LU) to Outperform from Underperform and raised its price target to $2.00 from $1.50, noting it believes the stock price has likely hit the bottom as China’s economy continues to recover.
The company is set to report its Q1 earnings next week.
Shares gained more than 6% yesterday.