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Fly News Breaks for February 28, 2020
CUK, CCL, NCLH, RCL
Feb 28, 2020 | 08:29 EDT
Deutsche Bank analyst Chris Woronka downgraded Royal Caribbean (RCL) to Hold from Buy with a price target of $80, down from $143, and cut his rating on Norwegian Cruise Line (NCLH) to Hold from Buy with a price target of $36, down from $63, stating that he "cannot realistically recommend buying them" given the many unknowns facing the cruise lines. While the multi-year earnings risk is becoming a greater threat for the group, if he owned the stocks already, he "would not sell them [...] and also would not short them," but he wouldn't be a buyer at this time, Woronka tells investors. He also maintains a Hold rating on shares of Carnival (CCL).
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