RCL → $280.00 by Dec 23, 2026.

RCL is around $230. Its 2026 adjusted EPS guide is $17.73-$17.87, and capacity is set to grow 4%, 6% and 7% in 2027-29. Now it is paying $3B for 50% of Sandals and Beaches at about 10x forward EBITDA. That implies roughly $300M of EBITDA for RCL’s share. The whole purchase is being funded with debt. Using RCL’s recent 5.55% bond as a rough funding cost, that is about $167M of yearly interest. The Sandals loan rate is not disclosed. …