Royal Caribbean price target lowered to $318 from $321 at Truist

Truist analyst C. Patrick Scholes lowered the firm’s price target on Royal Caribbean (RCL) to $318 from $321 and keeps a Hold rating on the shares as part of a broader research note on Cruise Lines. The firm notes that from its lengthy conversations over the past month with senior executives in the travel industry and from examining “big data” on future cruise bookings and pricing, the bottom line is that supply for the contemporary/mass-market segment continues to be slightly higher than that of demand, the analyst tells investors in a research note. Truist adds that investors should have relatively low-expectations for first-half net yield growth.