Princess Cruises celebrates float out of Regal Princess Regal Princess, a subsidiary of Carnival Cruise Lines, reached a significant construction milestone when the Princess Cruises vessel was "floated out" at its building dock at the Fincantieri shipyard in Italy. A traditional ceremony marked the occasion as the ship met the ocean for the first time. Once afloat, the ship will be moved to the outfitting dock where final construction and interior outfitting will take place. Regal Princess, a sister ship to the soon-to-debut Royal Princess, will debut in June 2014 with a season of Mediterranean cruises.
Carnival upgraded to Buy from Neutral at SunTrust SunTrust upgraded Carnival to Buy from Neutral and maintained its $53 price target. The firm's cruise line pricing survey observed three consecutive months of strong forward pricing, implying a favorable earnings outlook for Carnival. SunTrust said Carnival shares are still off the most from 2008 peak net yields compared to peers and the firm thinks its stock has the most room to run among the group.