Why Carnival Stock Beat the Market Today

Both stocks of cruise ship company Carnival (NYSE: CCL)(NYSE: CUK) easily topped the performance of the S&P 500 index on Wednesday. The two each advanced by around 2.8% as the company neared its latest quarterly earnings release.

Carnival will report its third-quarter results this Friday, and it seems investors and other interested parties are looking forward to a better-than-expected quarter.

One person who believes the company has a bright future is Credit Suisse analyst Benjamin Chaiken. On Wednesday he reiterated his unambiguous outperform (buy) recommendation on Carnival's U.S. stock, at a price target of $40. That's nearly double its current level.

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Source Fool.com