Barclays (NYSE:BCS) Bullish on Carnival Corporation (NYSE:CCL), Cruise Industry

Citing a bullish take on the cruise industry in general, and optimism expressed by Carnival Corporation (NYSE:CCL) specifically, Barclays (NYSE:BCS) believes the industry should have a decent rebound in 2011.

Barclays said, "Carnival's optimistic outlook underscores our bullish view on the cruise industry. Consistent with the conversations we have been having with travel agents, management noted that bookings completed during the last three months for 1Q11 through 3Q11 have been strong, with local currency ticket pricing up year over year.

"Our FY2011 EPS estimate goes to $3.05 from $2.90 driven by a higher net yield forecast of 4.5%, up from 3.0% previously ex FX. In constant dollars, we forecast net yield growth of 4%. Our FY2012 EPS estimate goes to $3.65 from $3.47, which reflects a net yield increase of 4.5%, up slightly from 4%."

Barclays maintains an "Overweight" rating on Carnival Corporation, which closed Wednesday at $46.59, up $1.41, or 3.12 percent. Barclays raised their price target on them from $52 to $55.