CCL/RCL – RISK WHERE YOU LEAST EXPECT IT

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.