Royal Caribbean price target raised to $358 from $263 at Barclays

Barclays raised the firm’s price target on Royal Caribbean (RCL) to $358 from $263 and keeps an Overweight rating on the shares as part of a Q2 earnings preview for the cruise lines. The firm expects Royal Caribbean to report a “beat and raise” quarter, but says Norwegian Cruise Line is not as likely to do so. Barclays sees an “uneven” second half of the year quarterly cadence across operators, which it believes sets up for “nuanced” Q3 outlooks. The recent sector rally creates a “less-than-ideal tactical setup on the print,” the analyst tells investors in a research note.