Citi ups Carnival target, opens ‘positive catalyst watch’ into investor day

Citi analyst James Hardiman raised the firm’s price target on Carnival to $18 from $14 and keeps a Buy rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. Citi’s recent cruise work and commentary out of Carnival and other cruise operators “has been nearly universally positive,” the analyst tells investors in a research note. Looking ahead, the firm expects to hear of new long-term targets from Carnival as soon as June 27 at its upcoming investor day, which is the basis of the ‘positive catalyst watch.”