Macquarie has decided to maintain its Outperform rating of Carnival (NYSE:CCL) and raise its price target from $16.00 to $22.00.

Shares of Carnival are trading up 0.4% over the last 24 hours, at $18.75 per share.

A move to $22.00 would account for a 17.36% increase from the current share price.

About Carnival

Carnival is the largest global cruise company, with 92 ships in service at the end of fiscal 2023. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted about 13 million guests in 2019, prior to COVID-19, a level it reached again in 2023.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.