Why Royal Caribbean, Norwegian Cruise Are Trading Lower Today

Royal Caribbean Cruises RCL and Norwegian Cruise Line NCLH shares were trading lower on Wednesday after a sell-side downgrade. 

Barclays downgraded Norwegian Cruise Line’s stock from Overweight to Equal-Weight.

Barclays downgraded Royal Caribbean Cruises from Overweight to Equal-Weight and lowered its price target from $55 to $50.

Cruise liners have been hit hard by the coronavirus pandemic. 

The Cruise Lines International Association issued a statement last week announcing that its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15. 

Royal Caribbean Cruises shares were trading down 12.75% at $47.43 at the time of publication Wednesday. The stock has a 52-week high of $135.32 and a 52-week low of $19.25.

Norwegian Cruise Line shares were trading down 13.55% at $15.60. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.

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