UPDATE: Topeka Capital Markets Downgrades Royal Caribbean Cruises to Hold, Raises PT
In a report published Friday, Topeka Capital Markets downgraded its rating on Royal Caribbean Cruises (NYSE: RCL) from Buy to Hold, but raised its price target from $34.00 to $36.00.
Topeka Capital noted, “We are lowering our rating on RCL from Buy to Hold due to the stock's recent appreciation. While we are increasing our EPS forecast and raising our price target from $34 to $36 after yesterday's strong 3Q12 performance, the shares may offer limited upside in the wake of their recent rally. RCL's appreciation potential may be more muted near term, but we retain a constructive long-term view of the benefits of resilient bookings and decelerating ship supply growth. A better buying opportunity in the stock could emerge in 1H13, when more definitive evidence of a now-expected European revenue rebound could support a higher valuation.”
Royal Caribbean Cruises closed on Thursday at $33.74.
Latest Ratings for RCL
|Jan 2015||Norne Securities||Downgrades||Buy||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.