Citi raised the firm’s price target on Carnival (CCL) to $37 from $30 and keeps a Buy rating on the shares. The firm believes “better-than-ever” demand dynamics and “lower-than-historical” supply growth dynamics are setting up a favorable pricing environment for the cruise lines that could last much longer than investors expect. Citi says recent data shows improving trends in May through July. The firm replaced Royal Caribbean (RCL) with Carnival on its Focus List.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCL:
- Carnival call volume above normal and directionally bullish
- Carnival Closes €1 Billion Senior Notes Offering
- Royal Caribbean price target raised to $315 from $235 at Jefferies
- Norwegian Cruise Line price target raised to $29 from $24 at Jefferies
- Viking Holdings price target raised to $52 from $45 at Jefferies