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Actionable news in RCL: ROYAL CARIBBEAN CRUISES Ltd.,

Royal Caribbean: Just Say You Were Wrong, OK?

Yesterday, Royal Caribbean Cruises (RCL) reported better than expected earnings and upped its guidance, pushing its shares to a new all-time high. Today, it was upgraded by Goldman Sachs, but the revision was done ever-so grudgingly.

Goldman Sachs analyst Stephen Grambling and team explain why they had a Sell rating on Royal Caribbean...and why they upgraded it to Neutral with a $115 price target:

We upgrade RCL to Neutral from Sell, as it is clear our thesis has failed to materialize...Our original view for the Sell rating was as follows:
  • Cruise would likely be a relative laggard in our coverage as corporate profits rebound...