Carnival Corp. was upgraded to buy from hold at Deutsche Bank on Monday, with analyst Richard Carter predicting the cruise company beats near-term consensus estimates amid low fuel costs and rebounding bookings. Deutsche Bank's 12-month price target of $55.30 implies a 13% increase from Friday's closing price. Shares of Carnival Corp. climbed 3.1% to $50.45 in premarket trade. "This update will not only underpin near term consensus forecasts, but should incrementally build confidence for outer years and the double-digit [return on capital employed] target," said Carter. The analyst also cited strong growth in demand for cruises in China.
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