Carnival price target raised to $28 from $25 at Citi

Citi analyst James Hardiman raised the firm’s price target on Carnival (CCL) to $28 from $25 and keeps a Buy rating on the shares. The firm says its most recent work on the cruise industry via a web traffic and pricing analysis shows sequential improvement from April to May. This is a “welcome sign of positivity following pockets of weakness in web traffic data in April,” the analyst tells investors in a research note. Citi believes that given the relative stability in the pricing data, it would appear the cruise operators are maintaining discipline for now given that most of the capacity is booked through 2025.