Wells Fargo lowered the firm’s price target on Carnival (CCL) to $37 from $40 and keeps an Overweight rating on the shares. The firm notes quarterly results were strong, with Q1 yield upside flow through to 2026 outlook. Wells also points out that strong results in Caribbean and Alaska offset some near-term pressure from Iran conflict in Europe. Fuel remains a wildcard, but the firm remains highly bullish on long-term.
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