UBS Maintains a 'Neutral' on Royal Caribbean (RCL); Q3 Beat, Bookings for '12 Continue Up

UBS maintains a 'Neutral' on Royal Caribbean Cruises (NYSE: RCL) price target raised from $27 to $31.

UBS analyst says, "As we had expected, RCL maintained constant FX yield guidance at +2-3%, equal to +1-2% excluding Pullmantur for FY2011, driven by the strong beat in Q3. Recall, CCL beat the top end of its Q3’11 yield guidance by 60bp and also kept the midpoint of FY11 yield guidance unchanged at +2%. EPS guidance is now down to $2.70-$2.80, from $2.85-$2.90, down on fuel mark-to-market and FX." (UBS now sees 2012 and 2013 EPS estimates of $2.88 and $3.21 from $2.63 and $2.82 previously on fuel)

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 $30.52 yesterday.

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