Barclays lowered the firm’s price target on Royal Caribbean (RCL) to $351 from $361 and keeps an Overweight rating on the shares. The firm adjusted targets in the cruise lines group as part of a Q1 preview. The Middle East conflict is “starting to leave its mark, while any rotation into the Caribbean isn’t helping (yet),” the analyst tells investors in a research note. Barclays cut estimates in the sector on higher fuel prices and trimmed yields for Q2 and Q3 as well. The favorable longer-term industry backdrop remains intact, and now includes “an underappreciated AI opportunity,” contends the firm.
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