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Bull of the Day: Royal Caribbean (RCL)
by Zacks Equity ResearchNovember 20, 2012 | Comments : 0 Recommended this article: (0)
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The company also experienced a slight increase in on-board revenue in the third quarter and its cost containment efforts are also paying off. Relatively stabilized booking patterns, cost containment efforts, fuel conservation initiatives, increasing exposure to countries like China in order to tap the developing cruise travel market and the slowdown in industry capacity are positives for the shares.
Hence, we upgrade the recommendation from Neutral to Outperform. Our six-month target price of $40.00 per share equates to about 20.4x our estimate for 2012. The target price implies an expected return of 19.3% over that period.
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