Deutsche Bank analyst, Chris Woronka, reiterated his Buy rating on shares of Carnival Corporation (NYSE: CCL) and raised his price target to $70 after the company's initial FY 2018 guidance on EPS & key metrics was right down the fairway in terms of buyside expectations.

The analyst stated "We remain a bit wary that costs could creep higher, but based on CCL's track record of conservatism we believe there is probably decent upside to the initial guide on yields (FY17
ended 200bps better than CCL's initial outlook). In that sense, we believe beats and raises have become something of an expectation and think that pattern needs to continue if the stock is to keep churning higher".

The new PT of $70 is up from $61.

For an analyst ratings summary and ratings history on Carnival Corporation click here. For more ratings news on Carnival Corporation click here.

Shares of Carnival Corporation closed at $68.13 yesterday.