Macquarie weighed in on the state of the cruise industry with Royal Caribbean Cruises Ltd RCL emerging as its top pick.
Analysts at Macquarie initiated coverage on Royal Caribbean, setting an $88 target with an Outperform rating. Royal Carribean is seen as a line with good growth but less risky than Norweigian Cruise Line Holdings Ltd NCLH.
Macquarie also initiated coverage on Carnival Corp CCL with a Neutral rating and $55 price target.
A note cited Royal Caribbean's stronger global brand, leading position in China, and a CEO that has been buying shares in the company as positive catalysts for growth. The company has lowered reported capacity growth in 2017, but analysts feel that it's setting up an easy capacity comparison for 2018.
"For investors willing to look past the current downgrade cycle, we think RCL is best positioned," said Macquarie.
Royal Caribbean stock was flat Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.