Why Royal Caribbean Group Shares Are Getting Hammered Today

Royal Caribbean Cruises Ltd RCL shares are trading lower by 8.72% to $36.64 Wednesday morning. Shares of cruise line operators are falling sharply during Wednesday's trading session amid a series of analyst rating updates and price target adjustments.

Barclays analyst Brandt Montour initiated coverage on Royal Caribbean Group with an Overweight rating and announced a price target of $56.

Peer cruise line operator Carnival Corp CCL shares are trading lower after Morgan Stanley maintained the stock with an Underweight rating and lowered its price target from $13 to $7... Read More

For Carnival, Morgan Stanley cited weaker occupancies and pricing, as well as elevated costs.

Royal Caribbean Group is the world's second-largest cruise company.

According to data from Benzinga Pro, Royal Caribbean Group has a 52-week high of $98.27 and a 52-week low of $34.10.