Carnival price target raised to $20 from $17 at Truist

Truist analyst C. Patrick Scholes raised the firm’s price target on Carnival to $20 from $17 and keeps a Hold rating on the shares as part of a broader sector note on Cruise Lines. MSC Cruises, a private “value-priced” brand has been described as a “disruptor” in this segment of the cruise market, but while MSC has been advertising very heavily, the firm’s latest conversations with travel industry executives suggest that it is not doing any discounting but rather raising prices, the analyst tells investors in a research note. Truist adds that the discussions and the “big data” on future cruise bookings were also “highly encouraging”.