Deutsche Bank Starts Royal Caribbean Cruises (RCL) at Hold
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Deutsche Bank initiated coverage on Royal Caribbean Cruises (NYSE: RCL) with a Hold rating and a price target of $81.
Analyst Chris Woronka said, "Even based on our below consensus 2017 forecast, RCL will in fact have doubled EPS since 2014 and the 10%+ ROIC target appears well within reach as well. RCL also very recently hiked its dividend by 28% (yield: 2.6%), which could bolster its investment appeal. And while we view apparent valuation (10.9x 2017E P/E) as more than reasonable, we believe investors likely need to get comfortable that projected out-year growth will in fact come to fruition. Our view is that likely won't occur until at least such time as we have a more firm grasp on how 2017 bookings--in totality--are trending. In light of all of these considerations, we initiate with a Hold rating and $81 PT."
Shares of Royal Caribbean Cruises closed at $74.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!