Citadel Securities Reiterates an 'Add' Royal Caribbean Cruises (RCL); Investors Toss RCL Shares Overboard on 2Q Results and Outlook

Citadel Securities reiterates an 'Add' Royal Caribbean Cruises (NYSE: RCL), but price target lowered from $57 to $51.

Citadel analyst says, "We Think RCL is Extremely Compelling - Now our Top Pick - Following yesterday's sharp sell-off, and taking into consideration that RCL's core business (ex-MENA) remains fundamentally very solid, we now find RCL shares to be extremely compelling at current levels. Investors are being afforded an opportunity to acquire a significantly profitable, well run, globally recognized brand at only 8.9x 2012E EPS - one that normally trades at 14.5x. As such, we reiterate our Add rating on RCL and now count it as our top pick within our lodging, gaming and leisure coverage."

For more ratings news on Royal Caribbean Cruises click here and for the rating history of Royal Caribbean Cruises click here.

Shares of Royal Caribbean Cruises closed at $31.26 yesterday.

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