Carnival price target raised to $11.50 from $7 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Carnival to $11.50 from $7 and keeps an Underweight rating on the shares. The company’s Q2 results “contained some encouraging data points,” but the FY23 guidance upgrade was only 2% versus consensus and the new long-term targets are some way off and “somewhat underwhelming,” the analyst tells investors in a post-earnings note.