Wells Fargo analyst Daniel Politzer upgraded Carnival (CCL) to Overweight from Equal Weight with an unchanged price target of $22. The firm sees more upside in Carnival than Norwegian Cruise Line (NCLH) at current prices and thinks Carnival’s higher FY24 EBITDA growth will allow it to deliver more quickly than Norwegian, the analyst tells investors in a research note. The firm sees a path to upward estimate revisions in FY24.
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