Wells Fargo raised its price target on Carnival Corporation to $38 from $36 while maintaining a Buy rating, implying about 30% upside. Stifel Nicolaus also increased its target to $37 from $36, marking its second hike in June. The upgrades follow Carnival's record second-quarter results, which included all-time highs in revenue, net income, yields, EBITDA, and customer deposits. CEO Josh Weinstein highlighted the company's financial flexibility to invest, reduce leverage, and accelerate shareholder returns, noting $450 million in stock repurchases already completed.
Carnival CorporationWells Fargo raised price target to $38 and maintained Buy rating after record Q2 results.
Wells Fargo & Company