Barclays Maintains an 'Overweight' on Royal Caribbean Cruises (RCL); Remain Bullish Long-Term

Barclays maintains an 'Overweight' on Royal Caribbean Cruises (NYSE: RCL) price target of $29.00.

Analyst, Felicia R. Hendrix, said, "We remain long-term buyers of RCL and reiterate our $35 upside case valuation. Near term, however, we recognize the difficulty of investing in a company that has low visibility into its most important quarter of the year (3Q) and acknowledge that this is a major culprit behind the 6.8% decline in RCL shares today (vs the S&P 500 at +0.1%). That said, with the stock at these levels (10.4x 2013E EPS), which likely already capture the risk of negative net yield growth in 3Q12, we would argue that further downside is limited in the near term."

Q2 EPS cut from $0.17 to $0.04, FY12 from $2.00 to $1.95 and FY13 from $2.65 to $2.60.

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 $26.92 yesterday.

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