UPDATE: Jefferies Lowers Target to $38 on Royal Caribbean

Jefferies maintains its Buy rating on Royal Caribbean RCL and lowers its target price to $34 from $36 a share on higher assumed oil prices and fallout from the Costa Concordia incident. Jefferies nots, "We reiterate our Buy recommendation on RCL with a slightly lower $34 price target. This follows a 25% (78 cents) reduction in our 2012 forecast EPS caused by a materially higher assumed oil price (55 cent hit) and lower assumed net revenues (28 cent hit) caused by the Costa Concordia incident." RCL closed at $28.69 a share on Thursday.