Carnival's Celebration Key Opening Spikes Google Search Traffic: Analyst

Carnival Corp (NYSE:CCL) opened its exclusive destination, Celebration Key, over the weekend, which drove Google search trends to a peak, according to JPMorgan.

The Carnival Analyst: Analyst Matthew Boss reiterated an Overweight rating on the stock.

The Carnival Thesis: Carnival Vista made its first visit to the port, which brought nearly 5,000 guests to this "exclusive destination," Boss said in the note.

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"Celebration Key features an adjacent cruise pier capable of accommodating two of Carnival's largest ships simultaneously," he added.

Initial consumer interest in the destination is reflected in Google Trends, which showed searches for "Celebration Key" rose by 285% versus 30 days ago, the analyst stated.

Management's outlook implies a sequential moderation in net yield growth by around 300 basis points in the back half of the year, Boss said. The outlook could prove conservative, with Celebration Key supporting "demand pricing upside, in addition to onboard spending upside," he further wrote.

CCL Price Action: Shares of Carnival had risen by 1.79% to $30.08 at the time of publication on Monday.

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