Royal Caribbean price target raised to $272 from $204 at Truist

Truist raised the firm’s price target on Royal Caribbean (RCL) to $272 from $204 and keeps a Buy rating on the shares as part of a broader research note on Cruise lines. The firm’s recent discussions with senior executives at private companies in the travel industry and examination of “big data” on future cruise bookings and pricing continue to be highly encouraging, the analyst tells investors in a research note. Truist adds that Royal Caribbean’s greater emphasis on 3-4 day cruises has generated strong customer demand, also noting that travel executives “cannot say enough good things” about this company and their strategic investments such as its extremely popular new ships, private islands, and planned beach clubs.