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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 10:31 EDT
William Blair analyst Sharon Zackfia downgraded Royal Caribbean to Market Perform from Outperform as continued coronavirus-related industry incidents raise the specter of both ramping passenger cancellations as well as a long recovery period. While the analyst says she sees value over the longer term from roughly 9 times her 2020 estimate, she expects continued near-term volatility in bookings, significant cancellations and material discounting to create downward pressure on earnings, with a cloudy line-of-sight on the bottoming of trends.
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