RCL - Is It Too Late to Buy Royal Caribbean Stock?
2024-07-15 05:24:00 ET
The arguments against buying Royal Caribbean (NYSE: RCL) stock right now are certainly sound enough. Shares are up nearly 400% for the past year, for example, reaching yet another record high just last week. That's a tough act to follow. The stock's also already priced right at the consensus price target of $166.96, seemingly leaving no upside left to tap. Never mind the economic lethargy chipping away at consumers' willingness -- and ability -- to spend money on discretionary goods and services.
But this may be one of those rare cases where it makes sense to go against the grain and buy Royal Caribbean stock despite the handful of reasons not to. Here's why.
You know the company. Royal Caribbean is of course one of the world's premier maritime cruise lines. It's also parent to Celebrity Cruises and Silversea Cruises. In total, the three brands generated $13.9 billion worth of revenue last year, turning $1.8 billion of it into net income.
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Is It Too Late to Buy Royal Caribbean Stock?