Carnival price target raised to $22 from $20 at BofA

BofA analyst Andrew Didora raised the firm’s price target on Carnival to $22 from $20 and keeps a Buy rating on the shares. Cruise trends in in the firm’s aggregated credit and debit card data and pricing survey reports have been very steady over the past several months, which bodes well for Carnival’s 4Q23 results and 2024 outlook, the analyst tells investors in a research note. While an in-line guide may not be a catalyst, Carnival is always conservative, which could lead to positive earnings revisions next year, BofA says.