Barclays Maintains an 'Overweight' on Royal Caribbean Cruises (RCL); Lowers PT & Estimates on 2012 Outlook

Barclays maintains an 'Overweight' on Royal Caribbean Cruises (NYSE: RCL), but cuts price target from $38 to $30.

Analyst, Felicia Hendrix, said, "...Following Carnival's (NYSE: CCL) 10K release yesterday and our conversations with travel agents, which indicated 10%+ declines in booking volumes y/y since the Concordia incident (and remain at that level), we now estimate that Royal will guide to constant dollar net yield growth of 1% in 2012, down 2pts from our prior +3% estimate."

Hendrix cuts RCL's FY12 EPS estimate from $3.15 to $2.48 and FY13 from $3.70 to $2.90. She also downgrades CCL this morning from OW to EW.

For an analyst ratings summary and ratings history on Royal Caribbean Cruises click here. For more ratings news on Royal Caribbean Cruises click here.

Shares of Royal Caribbean Cruises closed at $27.18 yesterday.

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