Cruise operators have been enjoying strong demand since climbing out of the Covid pandemic, which may have some investors wondering if the good times will last. UBS believes they will. For one, the gap between cruise prices and land-based hotel prices is still "meaningfully wider" than it was in 2019, UBS analyst Robin Farley wrote in a note Monday.
The firm met with management of Carnival, Royal Caribbean and Norwegian recently and the feedback was "positive across the board," he said. Who will benefit Royal Caribbean is the top pick of UBS' Farley, who has a buy rating on the stock. Her $168 price target on the stock suggests about 9% upside from Friday's close. "RCL's Wave season has been the strongest on company record from a volume and price perspective," she wrote.
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