Carnival price target raised to $29 from $20 at Truist

Truist analyst C. Patrick Scholes raised the firm’s price target on Carnival (CCL) to $29 from $20 and keeps a Hold rating on the shares as part of a broader research note on Cruise lines. The firm’s recent discussions with senior executives at private companies in the travel industry and examination of “big data” on future cruise bookings and pricing continue to be highly encouraging, the analyst tells investors in a research note. Truist adds however that for Carnival, a “value-priced” private MSC brand continues to target the company’s customers on price and has also been advertising very heavily as it continues to break into the North American market.