Citi raised the firm’s price target on Carnival (CCL) to $23 from $19 and keeps a Buy rating on the shares ahead of the company’s Q4 earnings call on Thursday, December 21. The firm, which is updating its cruise estimates to reflect lower fuel prices, says other recent datapoints on pricing and web traffic “remain nearly unanimously positive for the cruise industry,” while recent meetings with Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH) management “reinforced the positive commentary across the industry headed into 2024.”
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