Carnival says feels it will 'turn a corner' in 2H Says brand perception nearly recovered/ Says cautiously optimistic pricing will continue to improve. Says encouraged by progress, but says the company still has a lot of work to do. Says currently still toward the lower end of historical booking curve. Says demand in Japan has been less than anticipated in regards to Princess. Comments made during the company's first quarter earnings conference call.
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.