Carnival Corp (NYSE:CCL) shares are trading higher Monday after multiple analysts upgraded the stock and raised their respective price targets.

What Happened: JPMorgan analyst Matthew Boss upgraded Carnival from a Neutral rating to an Overweight rating and raised the price target from $11 to $16.

BofA Securities analyst Nicholas Thomas also upgraded Carnival from Neutral to Buy and raised the price target from $11 to $20.

Carnival is expected to report a loss of 35 cents per share on quarterly revenue of $4.75 billion, per Benzinga Pro estimates.

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CCL Price Action: Carnival has a 52-week low of $6.11. It's making new 52-week highs Monday morning.

Carnival shares up 6.34% at $13.92 at the time of publication.

Photo: courtesy of Carnival.