Royal Caribbean Cruises Ltd. (RCL): The Downgrades Are A Chance To Buy, Says Jim Cramer
We recently published 10 Stocks Jim Cramer Talked About As He Said Everyone Won From Trump’s Japan Deal. Royal Caribbean Cruises Ltd. (NYSE:RCL) is one of the stocks Jim Cramer recently discussed.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is one of the largest cruise ship operators in America. Its shares have gained 53% year-to-date due to strong earnings and analyst optimism. The shares have performed well despite the fact that Royal Caribbean Cruises Ltd. (NYSE:RCL) and other cruise ship stocks suffered earlier this year after reports of the Trump administration cancelling tax exemptions for the industry. Even though the shares were falling back then, Cramer had remained optimistic. More recently, analysts from Bernstein and CFRA have raised Royal Caribbean Cruises Ltd. (NYSE:RCL)’s price target. These upgrades were part of Cramer’s latest comments:
“But did you see what people are saying about the cruise ships again? Oh my and this Royal Caribbean, someone downgraded Royal Caribbean the other day. Forget that. That would turn out to be just another chance to buy it. The, the price target bumps for these stocks are insane. But then again, I mean cruising is a very inexpensive way to go.”
Here’s what Cramer had said about Royal Caribbean Cruises Ltd. (NYSE:RCL) after the tax exemption removal reports:
“Yeah, Royal Caribbean. I mean we pushed that very hard last night saying that their numbers are very good. Jason Liberty, just been on the show, the CEO a couple of weeks ago and he said things are good. And that’s like, the bookings yesterday were bad I don’t think so.”
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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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