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Royal Caribbean Cruises (NYSE:RCL) and Norwegian Cruise Line (NASDAQ:NCLH) shares were trading lower on Wednesday after a sell-side downgrade.
Barclays downgraded Norwegian Cruise Line’s stock from Overweight to Equal-Weight.
Barclays downgraded Royal Caribbean Cruises from Overweight to Equal-Weight and lowered its price target from $55 to $50.
Cruise liners have been hit hard by the coronavirus pandemic.
The Cruise Lines International Association issued a statement last week announcing that its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15.
Royal Caribbean Cruises shares were trading down 12.75% at $47.43 at the time of publication Wednesday. The stock has a 52-week high of $135.32 and a 52-week low of $19.25.
Norwegian Cruise Line shares were trading down 13.55% at $15.60. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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