Goldman Sachs Downgrades Cruise Sector to Neutral (RCL) (CCL)
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Price: $292.00 +1.52%
Rating Summary:
24 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
24 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Goldman Sachs lowered the cruise sector from Attractive to Neutral and lowered estimates and price targets for both Royal Caribbean Cruises (NYSE: RCL) and Carnival Corporation (NYSE: CCL).
The firm said, "it is increasingly clear that the Europe pricing problems are not short term – we now believe they will be sustained as overcapacity problems in North America have simply been shifted to Europe."
The price target on CCL goes from $42 to $36 and RCL from $35 to $28. The firm maintained a Buy rating on CCL and Neutral on RCL.
The firm said, "it is increasingly clear that the Europe pricing problems are not short term – we now believe they will be sustained as overcapacity problems in North America have simply been shifted to Europe."
The price target on CCL goes from $42 to $36 and RCL from $35 to $28. The firm maintained a Buy rating on CCL and Neutral on RCL.
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