UPDATE: Redburn Downgrades Royal Caribbean Cruises (RCL) to Neutral

June 22, 2020 5:23 AM EDT
Get Alerts RCL Hot Sheet
Price: $85.60 +0.81%

Rating Summary:
    14 Buy, 13 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 8 | New: 36
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(Updated - June 22, 2020 8:46 AM EDT)

(updated to add analyst comments)

Redburn analyst Alex Brignall downgraded Royal Caribbean Cruises (NYSE: RCL) from Buy to Neutral with a price target of $18.00.

The analyst commented, "We share prices having doubled from the lows, the sector enterprise value has fallen 30% in the crisis, which is a fair reflection of the new risk-reward profile. We cut our company recommendations to Neutral to Buy, as short-term uncertainty overwhelms long-term fundamentals."

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 $56.20 yesterday.

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