CCL/RCL – RISK WHERE YOU LEAST EXPECT IT

Takeaway: Cruise pricing survey and Macro suggest European winds shifting against RCL and CCL

Takeaways:

 

  • Hedgeye cruise survey points to weakening European pricing
  • Fragile consumer environment in the Eurozone e.g. Germany, Italy, and France projected by Hedgeye Macro team
  • RCL and CCL share appreciation, overly bullish sentiment, and relatively high valuations suggest reaction to negative European pricing pivot could be sharp

 

Please see our in-depth report HERE.