As previously reported, Goldman Sachs analyst Stephen Grambling upgraded Carnival to Buy from Neutral and raised his price target for the shares to $65 from $63. The analyst cites the company accelerating its net unit growth from 2.5% in the last 3 years to 5% over the next 3 years and also believes that concerns about net yields in Europe are overblown. Grambling further notes that Carnival's outlook for overall net yields is conservative as it is "well-below" the 5-year average and provides a "lower hurdle for beats and raises throughout 2019." Moreover, the analyst sees valuation on the shares as compelling at 11.4-times expected next-twelve-month earnings.