Carnival Upgraded To Buy

Goldman Sachs has upgraded Carnival Corporation (NYSE: CCL) to a Buy with a new price target of $44 from $36.

Goldman Sachs published a research report for CCL, citing its reasons for doing so: "Low supply growth, coupled with our newest work suggesting more “stealth” cost cuts ahead, should lead to margin improvement and drive upside to consensus EPS estimates. Moreover, we are seeing evidence of a stabilization to the “new normal” for the consumer, creating improving leisure travel. Finally, we note that CCL has outperformed in the past when industry supply growth slows."

Carnival Corporation closed yesterday at $38.34.