2024-02-16 16:32:08 ET
Summary
- Royal Caribbean Cruises Ltd. has seen the stock rebound to pre-Covid levels and is expected to reach record EPS levels in 2024.
- The cruise line has seen an increase in bookings and has absorbed additional capacity, resulting in less inventory available for the remainder of the year.
- The stock trades at only 10x forward EPS targets, with Royal Caribbean forecast to hit a record $11+ EPS in 2025.
The cruise line stocks have seen massive rebounds from the near-death experience with Covid shutdowns, yet most of the stocks are still relatively cheap. Royal Caribbean Cruises Ltd. ( RCL ) has even seen the stock rebound to the prior all-time high levels of nearly $135 before the recent dip. My investment thesis remains Bullish on RCL stock, looking for record numbers as sales fly past the prior highs....
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Royal Caribbean: Blowing Past Base Case