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Royal Caribbean shares may soar in 2013-Barron's
NEW YORK, July 1 |
NEW YORK, July 1 (Reuters) - Royal Caribbean Cruises Ltd , whose shares have been torpedoed amid a cooling global economy and the wreck of rival Carnival Corp's "Costa Concordia" in mid-January, could rebound next year, the business weekly Barron's wrote in its July 2 edition.
While bookings will likely remain low through most of this year because cruises are booked months in advance, fuel costs and operating expenses are falling and memories of the disaster are likely to fade, the publication said.
The stock is cheap, trading at under ten times next year's estimate's earnings, and analysts expect profit to rise 34 percent in 2013 to $2.68 a share. Longer term, they expect shares to climb to the low- to mid-$30s, Barron's said.
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