Carnival price target raised to $38 from $31 at BofA

BofA analyst Andrew Didora raised the firm’s price target on Carnival (CCL) to $38 from $31 and keeps a Buy rating on the shares. Cruise line stocks have “meaningfully” outperformed the market and other travel stocks, returning 72% on average since the market trough on April 8, the analyst noted. The firm, which expects positive commentary from cruise lines this earnings season, increased its targets across the group as it rolls valuations to 2026 and increased multiples after the recent re-rating.