Royal Caribbean price target lowered to $377 from $379 at Mizuho

Mizuho lowered the firm’s price target on Royal Caribbean (RCL) to $377 from $379 and keeps an Outperform rating on the shares. The firm says that despite a “precarious” geopolitical environment, it is constructive on the cruise industry. “Compressed valuations” in the group fully encompass the recent move higher in oil prices as well as some potential isolated demand impacts, the analyst tells investors in a research note. However, Mizuho thinks Street yield estimates may have risk.