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Royal Caribbean Cruises Has Upside To Estimates, Says Bullish Analyst

Published 17/04/2024, 16:58
© Reuters.  Royal Caribbean Cruises Has Upside To Estimates, Says Bullish Analyst

Benzinga - by priya@benzinga.com, .

A mix of quality ship assets and differentiated destinations helps Royal Caribbean Cruises Ltd (NYSE:RCL) drive upside to estimates, according to Mizuho Securities.

The Royal Caribbean Cruises Analyst: Ben Chaiken initiated coverage of Royal Caribbean Cruises with a Buy rating and a price target of $164.

The Royal Caribbean Cruises Takeaways: The company can drive price by including more unique destinations, Chaiken said in the initiation note.

"RCL should be able to drive incremental demand through the expansion of existing destinations (e.g., CocoCay), the development of new attractions (Hideaway Beach and Royal Beach Club), as well as differentiated ships (e.g., Icon of the Seas)," the analyst wrote.

Royal Caribbean Cruises plans to inaugurate Royal Beach Club in spring or summer 2025, which is "particularly geared for the short-duration cruise" and could be "a material yield driver," he added.

The company has removed some costs from the system, which could drive upside to estimates, Chaiken further stated.

RCL Price Action: Shares of Royal Caribbean Cruises had risen by 0.74% to $127.55 at the time of publication on Wednesday.

Read Next: What’s Going On With Intrusion Shares Today?

Photo: Courtesy Royal Caribbean

Latest Ratings for RCL

Feb 2022Morgan StanleyMaintainsUnderweight
Feb 2022StifelMaintainsBuy
Dec 2021BerenbergUpgradesSellHold

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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