Saturday, October 11, 2008

Royal Caribbean Cruises Still A 'Buy,' Analyst Says

A Stifel Nicolaus & Co. analyst maintained his ''Buy'' rating on shares of Royal Caribbean Cruises (RCL), saying the stock's sell-off is overdone, despite increasing pressures on consumer discretionary spending.

The analyst noted Royal Caribbean's shares have dropped more than 40 percent over the past five weeks. He said the sell-off appears overly dramatic.

The analyst believes a slowdown in bookings is already factored into the share price and estimates. He also said the Miami company has enough inventory booked already to provide ``a sound cushion for the next six months.''

Source: MiamiHerald.Com

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