Attractive valuation on Royal Caribbean highlighted – Royal Caribbean Cruises Ltd. (NYSE:RCL)


Wolfe Research’s Jared Shojaian explains why Royal Caribbean (RCL +0.5%) looks appealing at its current share price.

“Shares of RCL are down 23% since the peak back in January, and its forward P/E multiple has contracted by 28% from 15.2x to 10.9x mostly due to rising oil/USD and concerns about future supply growth. RCL has undeservedly been hit the hardest in the group, in our view, which we attribute to more exposure to the Caribbean. We think RCL’s valuation has created a very attractive risk/reward and we have three charts to illustrate our view,” writes the analyst.

Wolfe Research initiated coverage on Royal Caribbean in January with an Outperform rating.


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