Macquarie Research reiterated its outperform rating on Royal Caribbean Cruises (NYSE:RCL) on Monday after the company’s fourth-quarter update in which management noted that the seven largest weeks of bookings in the company’s history had occurred since November.
The the cruise operator’s strong ratings with fourth-quarter revenue, adjusted EBITDA and overall load factors impressed Macquarie. Analyst Paul Golding said RCL had reached post-COVID exit velocity in terms of profitability and cash flow horizons. Most notably, Royal Caribbean (RCL) is considered to have potential for removal.
“We are modeling a record FY23 EBITDA on guidance. Barring any new exogenous shocks and macro spending disruptions, the path forward for RCL is the clearest it has been in 3 years.”
RCL shares rose 0.90% on Monday and are now up more than 48% year-to-date.
Royal Caribbean (RCL) has a higher Alpha Quantitative Search Score than similar cruise lines.