UPDATE: Macquarie Upgrades Royal Caribbean Cruises (RCL) to Outperform

March 2, 2021 8:10 AM EST
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Price: $90.69 +2.87%

Rating Summary:
    14 Buy, 13 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - March 2, 2021 8:39 AM EST)

Macquarie analyst Paul Golding upgraded Royal Caribbean Cruises (NYSE: RCL) from Neutral to Outperform, PT $100.00.

The analyst comments "RCL noted new bookings so far through February were up 30% YTD when compared to November and December, despite the lack of marketing spend. New bookings (not related to rebooking activities) represented nearly 75% of the cumulative schedule at RCL. The booked position for 2H’21 is currently pricing higher than in 2019 notwithstanding the dilutive impact of FCCs – an improvement over the language from the last print. Further out, the booked position for 1H’22 is within historical averages but also at higher average pricing. Management noted an encouraging level of bookings for 2022 over the past six weeks."

For an analyst ratings summary and ratings history on Royal Caribbean Cruises click here. For more ratings news on Royal Caribbean Cruises click here.

Shares of Royal Caribbean Cruises closed at $92.00 yesterday.

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