Carnival price target raised to $17 from $11 at Susquehanna

Susquehanna analyst Christopher Stathoulopoulos raised the firm’s price target on Carnival to $17 from $11 and keeps a Positive rating on the shares. Monday’s stock reaction after the quarterly earnings was not surprising given Carnival’s full 70% run-up since mid-March, and while the firm expected a raise to FY23 guidance, the introduction of multiyear guidance came earlier than expected and was necessary to support fundamental momentum going forward, the analyst tells investors in a research note.