Royal Caribbean price target raised to $113 from $100 at Barclays

Barclays analyst Brandt Montour raised the firm’s price target on Royal Caribbean to $113 from $100 and keeps an Overweight rating on the shares. The analyst sees no signs of a slowdown in demand for the cruise lines and expects “solid prints” from both Royal and Norwegian. The rally in cruise stocks has closed much of the valuation “discount,” but it is too soon to sell the cruise names, the analyst tells investors in a research note. The firm believes positive earnings revisions and deleveraging will drive most of the upside from here.