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Carnival: Morgan Stanley upgrades rating.

(CercleFinance.com) - Morgan Stanley has upgraded its rating on the Carnival stock from "underweight" to "weight in line," raising its target price for the share from 4,700 pence to 5,100 pence for the UK-listed share and from 61 dollars to 68 dollars for the US-listed share.

"Our survey suggests strong cruise demand in November, with Caribbean demand normalizing post the hurricanes, and strong demand for Europe and Alaska," the broker says.

While it remains concerned about the risk of industry overcapacity, the broker therefore considers that demand continues to exceed expectations, which has led it to upgrade its rating on the Miami-based cruise line.

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