Carnival price target raised to $30 from $29 at Truist

Truist analyst C. Patrick Scholes raised the firm’s price target on Carnival (CCL) to $30 from $29 and keeps a Hold rating on the shares as part of a broader research note on Cruise names. The firm’s conversations over the past month with senior executives in the travel industry and its examination of “big data” on future cruise bookings and pricing remain “highly encouraging”, the analyst tells investors in a research note. While the price of a cruise is up 7%-19% vs. pre-Covid levels, this growth rate is still materially below that of land-based hotels, especially in Europe and the Caribbean, the firm added.