Carnival upgraded to "overweight"

11.10.07 - Lehman Brothers

NEW YORK, October 11 (newratings.com) - Analysts at Lehman Brothers upgrade Carnival Corp (CCL) from "equal weight" to "overweight." The target price has been raised from $52 to $55.

In a research note published yesterday, the analysts mention that net yields are likely to continue to improve at least through 1H08. The Caribbean trends are stabilizing, and Carnival faces easy comps in 2008, the analysts say. The company?s booking curve appears to have substantially widened, and robust momentum continues in European cruises, Lehman Brothers adds.