Is Royal Caribbean Stock Really Headed to $63?
If you believe one Wall Street pro, Royal Caribbean (NYSE: RCL) is the most attractive stock in the battered cruise ship sector. An analyst at Wedbush this week called it a worthy buy compared to peers like Carnival (NYSE: CCL) and Norwegian Cruise Lines (NYSE: NCLH). Shares could land at $63 per share within the next year, the analyst predicted, from around $42 per share today.
Royal Caribbean did prove the strongest cruise ship business in the quarters preceding the COVID-19 pandemic. Net revenue yields jumped 8% in 2019 compared to a roughly flat result for Carnival. And those gains came despite a few significant challenges, including the worst hurricane season Royal Caribbean had endured.
Through those issues, its focus on customer satisfaction and on creating novel experiences like its exclusive island resorts allowed it to attract better pricing and occupancy trends than either Carnival or Norwegian Cruise Lines last year.
Source Fool.com
