Truist raised the firm’s price target on Carnival to $18 from $15 and keeps a Hold rating on the shares as part of a broader research note. Conversations with senior executives at very large travel agencies that specialize in cruises and examining “big data” on future bookings and pricing suggest that the industry is better booked at this stage of the year for the rest of the year than ever before, the analyst tells investors in a research note. For Carnival specifically, cruise bookings are greater than 70% sold for 2024 and 85% sold for the first half of the year vs. 60% sold by mid-January historically, the firm added.
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