On Oct 01, major Wall Street analysts update their ratings for $Carnival (CCL.US)$, with price targets ranging from $16.5 to $27.
Morgan Stanley analyst Jamie Rollo maintains with a sell rating, and adjusts the target price from $13.5 to $16.5.
Goldman Sachs analyst Lizzie Dove maintains with a buy rating, and adjusts the target price from $22 to $23.
Citi analyst James Hardiman maintains with a buy rating, and adjusts the target price from $18 to $22.
Barclays analyst Brandt Montour maintains with a buy rating, and adjusts the target price from $25 to $26.
Wells Fargo analyst Daniel Politzer maintains with a buy rating, and maintains the target price at $24.
Furthermore, according to the comprehensive report, the opinions of $Carnival (CCL.US)$'s main analysts recently are as follows:
Following Carnival's Q3 report, the forecasted EPS for FY24, FY25, and FY26 has been increased by 8%, 13%, and 12%, respectively. It's observed that the cruise booking environment is outperforming other travel segments, and Carnival benefits from favorable fuel and currency conditions. However, its asset-heavy model combined with high operational and financial leverage makes it more vulnerable to economic slowdowns compared to other companies being monitored.
Carnival's recent quarterly report and subsequent guidance for the fourth quarter may not meet all expectations, yet the optimistic signals from underlying demand factors and management's commentary suggest that the potential for growth by 2025 remains unshaken. The company's performance this quarter, despite not being the most straightforward example of exceeding expectations, demonstrated another period of strong fundamental metrics.
Carnival has shown 'better than expected' incremental margins, and the ability to achieve revenue and EBITDA rates significantly surpassing those of 2019 in the second and third quarters indicates potential for an enhanced overall business margin profile. With Carnival now set to leverage additional revenue over a more efficient cost structure, the strengthening of incremental margins is viewed as an underrecognized aspect of the company's narrative.
Here are the latest investment ratings and price targets for $Carnival (CCL.US)$ from 9 analysts:
Note:
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