Carnival price target raised by $2 at JPMorgan, here’s why

JPMorgan raised the firm’s price target on Carnival to $21 from $19 and keeps an Overweight rating on the shares. The fundamental backdrop for cruise remains “solid” with reacceleration in the past six weeks, the analyst tells investors in a research note. The firm says its work points to an expanded total addressable market for the cruise industry post-pandemic with 35%-plus value proposition versus land-based alternatives.