Topeka Capital Downgrades Royal Caribbean Cruises (RCL) to Hold after Q3 Rally, Come Back Next Year
Topeka Capital downgraded Royal Caribbean Cruises (NYSE: RCL) from Buy to Hold with a price target of $36.00 (from $34.00) following Q3 results.
The firm sees limited upside in the wake of the recent rally following yesterday's strong 3Q12 performance.
The firm said a better buying opportunity in the stock could emerge in 1H13, when more definitive evidence of a now-expected European revenue rebound could support a higher valuation.
The firm raised its 2012 EPS forecast from $1.77 to $1.92 and raised 2013 EPS forecast from $2.59 to $2.75.
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 $33.74 yesterday, with a 52 week range of $22.12-$34.75.
The firm sees limited upside in the wake of the recent rally following yesterday's strong 3Q12 performance.
The firm said a better buying opportunity in the stock could emerge in 1H13, when more definitive evidence of a now-expected European revenue rebound could support a higher valuation.
The firm raised its 2012 EPS forecast from $1.77 to $1.92 and raised 2013 EPS forecast from $2.59 to $2.75.
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 $33.74 yesterday, with a 52 week range of $22.12-$34.75.