3 New Strong Buy Ratings from Top-Rated Analysts: 12/13/2024

These stocks are cruisin’ … Royal Caribbean Cruises (NYSE: RCL) and Carnival Corp. (NYSE: CCL) both got Strong Buy ratings and price target upgrades this week. In a different sector but similarly hot is Boston Scientific Corp. (NYSE: BSX), which a top-rated analyst believes could see significant upside in the upcoming year. Here’s the story:

1- Royal Caribbean Cruises (NYSE: RCL) 

Zen Rating: B (BUY)

Analyst/Firm: James Hardiman / Citigroup

Analyst ranking: Top 13% 

Price at writing: $245.52

Price target: $283.00 

• Maintaining a Strong Buy rating, Citigroup's James Hardiman raised their price target on Royal Caribbean Cruises (NYSE: RCL) by 10.1% from $257 to $283 on 12/11. See more price targets + ratings on RCL here
• Hardiman told investors that a deep dive into their Consumer Goods (Leisure) sector coverage catalyzed their price target hike.
• According to the analyst, their recent study of the cruise space indicated good trends that will likely continue into 12/2024, "albeit with pockets of Q/Q weakness" in online traffic. 
• In spite of a "slight slowdown" following a successful Wave Season earlier this year, consumer interest in cruises remained continuously strong throughout 2023 and into 2024, with indicators indicating stable trends in 2H 2024, Hardiman said. 
• The analyst expects projections for cruise companies to keep going up and that multiples will rise somewhat as a result of investors chasing the industry's excellent growth characteristics, relative affordability, low valuation, demographic tailwinds, and tariff-free status.

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2- Carnival Corp. (NYSE: CCL) 

Zen Rating: B (BUY)

Analyst/Firm: James Hardiman / Citigroup

Analyst ranking: Top 13% 

Price at writing: $26.58

Price target: $30.00 

• Maintaining a Strong Buy rating, Citigroup's James Hardiman raised their price target on Carnival (NYSE: CCL) by 7.1% from $28 to $30 on 12/11. See more price targets + ratings on CCL here
• Hardiman told investors that a deep dive into their Consumer Goods (Leisure) sector coverage catalyzed their price target hike.
• According to the analyst, their recent study of the cruise space indicated good trends that will likely continue into 2024/12, "albeit with pockets of Q/Q weakness" in online traffic. 
• In spite of a "slight slowdown" following a successful Wave Season earlier this year, consumer interest in cruises remained continuously strong throughout 2023 and into 2024, with indicators indicating stable trends in 2H 2024, Hardiman said. 
• The analyst expects projections for cruise companies to keep going up and that multiples will rise somewhat as a result of investors chasing the industry's excellent growth characteristics, relative affordability, low valuation, demographic tailwinds, and tariff-free status.

3- Boston Scientific Corp. (NYSE: BSX) 

Zen Rating: B (Buy)

Analyst/Firm: Joanne Wuensch / Citigroup

Analyst ranking: Top 9% 

Price at writing: $90.56

Price target: $107.00

• Maintaining a Strong Buy rating, Citigroup's Joanne Wuensch raised their price target on Boston Scientific (NYSE: BSX) by 9.2% from $98 to $107 on 12/11. See more price targets and ratings on BSX here.
• Wuensch made their price target move on Boston Scientific in a 2025 preview of names in the U.S. Medical Technology sector.
• The analyst said that they added the name to Citigroup's Focus List because they expect the stock's momentum.
• Wuensch explained that, for Boston Scientific, "next year's growth drivers should be a retelling of the 2024 story - continued expansion of Farapulse pulsed-field ablation and Watchman left atrial appendage closure adoption and penetration.

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