UBS analyst Robin Farley reiterated a Buy rating and $79.00 price target on Royal Caribbean Cruises (NYSE: RCL).

The analyst comments "RCL reported a slight increase in new money bookings in Q3 of $14M but that reversed in Q4 with a $35M outflow, unsurprising given continued delays in a U.S. restart. Guidance for monthly cash burn remains at $250-290M, though the company notes it expects this to go up as they prepare to restart with additional restart costs such as manning the ships, health protocols, and marketing spend. With cash burn of $250-290M/ month and using liquidity balance of $4.4B, we estimate RCL has 15-17 months of liquidity, getting to Q2’22 in a zero-rev scenario."

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 $78.87 yesterday.