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Carnival Rallies Over 8% On 2024's Best Day After Strong Earnings: It 'Hit The Key Marks That Investors Were Looking For'

Carnival Corp. (NASDAQ:CCL) rallied over 8% by 2:30 p.m. ET Tuesday, eyeing its best trading session of 2024 after delivering second-quarter earnings that significantly beat expectations. Goldman Sachs analyst Lizzie Dove highlighted that the cruise line’s Q2 beat and the Q3 guidance "hit the key marks that investors were looking for," driving the positive market reaction. The investment bank maintained a ‘Buy’ rating on Carnival, setting a 12-month price target of $22 per share, implying a robust 34% surge from current levels. Other cruise-line stocks rallied in sympathy with Carnival on Tuesday. Royal Caribbean Cruise Ltd. (NYSE:RCL) and Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) soared by 4.2% and ...