Edwards reduced its earnings estimates for Royal Caribbean Cruises
citing slow bookings, Caribbean softness and fuel prices.
The report looks at
Royal Caribbean and Carnival, and noted that pricing is strong
outside the Caribbean, and that long Caribbean itineraries are the
reaffirmed the firms buy ratings for both Carnival and Royal
Caribbean, but said its mood remained more cautious. It says
investors will want further evidence that pricing issues in the
Caribbean will remain specific to that market and that fuel prices
Year over year,
Royal Caribbeans pricing is flat or down in the Caribbean and
Alaska while Carnival is down, but not as much, in the Caribbean,
and is up in Alaska.
The report also
says that the 2006 Wave season was "ok (not great/not a disaster)
versus the '05 very strong comparison."
To contact the
reporter who wrote this article, send e-mail to Johanna Jainchill
at [email protected].