Carnival price target lowered to $21 from $25 at Loop Capital

Loop Capital lowered the firm’s price target on Carnival (CCL) to $21 from $25 and keeps a Hold rating on the shares. The firm remains favorably disposed to the entire cruise industry and sees the company’s balance sheet improvement as “evident”, but also notes that the stock has performed terribly this year as investors are weary of the risks to the company’s growth rate, the analyst tells investors in a research note. The retrenchment in the stock is mostly due to demand concerns as consumer confidence softens, even though pricing and booking trends have stayed solid to date, the firm adds.