STOCKS NEWS EUROPE-Carnival higher; Evolution upgrades

Shares in cruises operator Carnival (CCL.L) gain 6.4 percent, the second biggest FTSE 100 .FTSE riser as a number of brokers raise forecasts and targets following Thursday's second-quarter results from the group, with Evolution also prompted to upgrade its rating for the stock.

Evolution, in a note, raises its stance on Carnival to "neutral" from "sell" and hikes its target price to 1,630 pence from 1,475 pointing out that Carnival produced better than expected full-year guidance.

The broker says the cruises operator has good visibility on the third-quarter and says there is the glimmer of pricing stability.

Evolution notes that Carnival's shares have been weak running into the Q2 results, hence its upgrade to "neutral", but with the stock a macro call on U.S. consumer recovery it feels it will tread water until the outlook is clearer.

Numis Securities, SG Securities, and Exane BNP Paribas all also hike their target prices for Carnival in post-results analysis.

For more on Carnival's results double click on [ID:nWNAB1011]

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