Carnival price target raised to $32 from $27 at Stifel

Stifel analyst Steven Wieczynski raised the firm’s price target on Carnival (CCL) to $32 from $27 and keeps a Buy rating on the shares. The firm is “cautiously optimistic/nervous heading into Carnival’s first crack at FY25 guidance, telling investors it “would not surprise us at all to see CCL’s initial FY25 guidance underwhelm current lofty expectations.” The firm believes buy-side expectations for FY25 EBITDA are somewhere in the $6.7B-$6.9B range, noting that consensus stands at about $6.7B.