Carnival price target raised to $32 from $24 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Carnival (CCL) to $32 from $24 and keeps a Buy rating on the shares. The firm expects a solid 2025 for the leisure group with “another stellar year” for cruise. The momentum in cruise will continue, with new-to-cruise passengers growing in the mid teens year-over-year, overall penetration still low, and demand materially outpacing supply to drive pricing power, the analyst tells investors in a research note. Goldman says Carnival has “several tailwinds ahead” which should drive a pricing catch-up and outperformance versus the industry.