Royal Caribbean price target raised to $204 from $165 at Citi

Citi raised the firm’s price target on Royal Caribbean (RCL) to $204 from $165 and keeps a Buy rating on the shares. The firm’s estimates and price targets “are up across the board” following a Carnival (CCL) earnings print “that left little doubt and spoke to enduring pricing power in the ‘post post-COVID’ phase for the industry.” While much of Carnival’s beat came in the form of expense timing, per diems comfortably beat expectations and the full-year guide was raised more than the Q1 beat, the analyst tells investors in a research note.