据杰富瑞（Jefferies）称，皇家加勒比游轮公司（Royal Caribbean Cruises）斥资 30 亿美元收购 Sandals Resorts International 50% 的股份，可能会为其带来提振。
Royal Caribbean Cruises will likely get a boost from its $3 billion, 50% stake in Sandals Resorts International, according to Jefferies.
该投资银行将这家游轮运营商的评级从“持有”上调至“买入”，并将 12 个月目标价从 305 美元上调至 330 美元，这意味着较周三收盘价有近 17% 的上涨空间。
The investment bank raised its rating on the cruise line operator to buy from hold and hiked its 12-month price target on the stock to to $330 from $305, implying nearly 17% upside from Wednesday's close.
杰富瑞分析师大卫·卡茨（David Katz）在周四的一份报告中写道：“我们过去 18 个月对皇家加勒比的投资框架最终证明过于保守。
"Our investment framework on RCL over the past 18 months ultimately proved too conservative," Jefferies analyst David Katz wrote Thursday in a report.
虽然考虑到可比销售额放缓和伊朗冲突，我们此前的谨慎是有道理的，但我们现在看到了越来越有吸引力的局面。”
"While our caution was later warranted given slowing comps and the Iran conflict, we now see an increasingly attractive setup."
他表示：“我们的观点是由更优惠的 2027 财年净收益预期（+3.3% 对比之前的 +2.9%）以及对 Sandals 的高增长信心所驱动的。”
"Our view is driven by a more favorable [fiscal year 2027] net yield setup (+3.3% vs. +2.9% prior) and high- conviction growth in Sandals," he said.
皇家加勒比在宣布 Sandals 交易后，周二股价下跌了 2%。该股在 2026 年几乎没有变化。
Royal Caribbean fell 2% Tuesday after announcing the Sandals deal. The stock is little changed in 2026.
卡茨指出，在与 Sandals 达成合作后，皇家加勒比的盈利预期可能会走高，这将推动股价出现比华尔街预期更大的上涨空间。
RCL YTD mountain Shares or Royal Caribbean are roughly trading flat in 2026. But Katz noted that earnings estimates for Royal Caribbean could move higher following the Sandals tie-up, which should drive more upside than Wall Street expects to the stock.
卡茨写道：“在当前未来十二个月企业价值倍数（EV/EBITDA）低于 13.0 倍的情况下，我们预计 Sandals 将推动盈利预期走高，这意味着其上涨空间比当前估值所反映的要大。”
"At < 13.0x current [next twelve months enterprise value-to-EBITDA], we expect the estimates to move higher on Sandals, which implies greater upside than headline valuations reflect," Katz wrote.
LSEG 数据显示，杰富瑞的观点与华尔街的共识一致，在 30 位分析师中，有 24 位将皇家加勒比评为“买入”或“强力买入”，另有 6 位给予“持有”评级。
Jefferies' call matches the consensus on Wall Street, where 24 of 30 analysts rate Royal Caribbean a buy or strong buy, while six give it a hold, LSEG data shows.