Royal Caribbean Shares Slip on Downgrade

Shares of the cruise line were trading lower after analysts with JPMorgan downgraded the stock to Neutral.
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Shares of Royal Caribbean (RCL) - Get Report were lower Thursday after analysts with JPMorgan downgraded the cruise line to NEUTRAL from OVERWEIGHT. The analysts cited weakness in the European markets and rising supply in China and put a $73 price target on Royal Caribbean stock. Royal Caribbean shares have fallen sharply in 2016, prompting about a third of the company's market cap to vanish. Analysts with Jefferson Research recently saying the company deserves a BUY rating on the basis of improving operating efficiency and strong cash flow, which the analysts say could be the "ultimate measure of company performance and more reliable than reported earnings."

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