Carnival price target raised to $18 from $13 at Barclays

Barclays raised the firm’s price target on Carnival to $18 from $13 and keeps an Overweight rating on the shares. Despite “a very impressive run in shares,” the firm remains bullish on Carnival based on its pricing checks, continued signs that the cruise industry is “closing the gap” between its pricing and that of land based vacations and that Carnival is also closing its own operating gap compared to its cruise peers. The firm is expecting a “strong” Q2 report, raised second half guidance and a strong overall tone for demand and pricing when Carnival reports and hosts it investor day, the analyst tells investors.