Northcoast bullish on Royal Caribbean, initiates with a Buy

As previously reported, Northcoast initiated coverage of Royal Caribbean (RCL) with a Buy rating and $279 price target The firm views Royal Caribbean as the blue-chip stock of the “Big 3” group and thinks investors will continue to be rewarded by owning the shares. Despite the stock’s impressive gains over the past two years, Northcoast believes there is continued smooth sailing ahead from returns of capital to shareholders via buybacks as well as multiple expansion as it thinks the company now has the strongest financial position in its history.