Stifel notes that Carnival announced a 11% increase in its quarterly dividend to 50c per share and initiated a new $1B share repurchase authorization. Although Caribbean pricing concerns brought about by recent industry channel checks and pricing surveys have placed downward pressure on shares across the cruise operator group, the firm encourages investors to look beyond the noise of one particular market and focus on what very much remain strong underlying fundamentals supported by a truly global business. Stifel reiterates a Buy rating and $81 price target on Carnival shares and encourages investors to take advantage of what it views as an irrational pullback to add to or initiate positions in the name.