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The note from Bank of America comes after Royal Caribbean's stock soared 10% on Monday after the company touted its bookings for next year. CEO Richard Fain told CNBC's Seema Mody that, "I think we are seeing that there is a pent-up demand. People are frustrated being at home and being isolated."
Norwegian shares climbed more than 8% on Monday and have now risen in four of the past five sessions.