Royal Caribbean price target raised to $380 from $360 at Bernstein

Bernstein analyst Richard Clarke raised the firm’s price target on Royal Caribbean (RCL) to $380 from $360 and keeps an Outperform rating on the shares. Cruise ships sail “on stranger tides” and such is the structural demand opportunity that Royal Caribbean was able to absorb the supply shock and deliver a strong beat and raise quarter, the firm says.