UPDATE: Wolfe Research Upgrades Royal Caribbean Cruises (RCL) to Outperform, 'Booking Momentum Improves'

June 16, 2021 5:27 AM EDT
Get Alerts RCL Hot Sheet
Price: $89.01 +4.31%

Rating Summary:
    14 Buy, 13 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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(Updated - June 16, 2021 5:47 AM EDT)

Wolfe Research analyst Greg Badishkanian upgraded Royal Caribbean Cruises (NYSE: RCL) from Peerperform to Outperform with a price target of $94.00.

The analyst comments "We are upgrading the “Big 3” public cruise stocks (Carnival, Norwegian & Royal Caribbean) from Peer Perform to Outperform. Our checks suggest improving booking / pricing trends out of North America over the past month, with stronger trends over the past week. While there is some lingering uncertainty surrounding the U.S. restart (CDC / Florida, etc.), we view those unknowns as largely transitory when viewed against the broader reopening backdrop and expect pent-up demand / normalized capacity to support debt paydown efforts."

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 $86.93 yesterday.

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