Royal Caribbean (RCL)
by Zacks Equity ResearchFebruary 15, 2012 | Comments : 0 Recommended this article: (0)
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Additionally, the probable cannibalization of the existing fleet, lower visibility on a new class of ships that the company is designing and the expected increase in cost structure make us cautious. Hence, we downgrade the stock from Neutral to Underperform.
Our six-month target price of $28.00 per share equates to about 13.7x our estimate for 2012. The target price implies an expected negative return of 8.7% over that period. Therefore, we recommend an Underperform rating on the shares.
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