Jamie Rollo, an analyst from Morgan Stanley, maintained the Hold rating on Carnival. The associated price target remains the same with $30.00.
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Jamie Rollo’s rating is based on a combination of factors that reflect both positive and cautious elements in Carnival’s financial performance. The company reported a strong third quarter with earnings per share exceeding expectations, driven by higher net revenue yields and lower costs, including fuel and interest expenses. However, despite these positive results, the net revenue yield growth was slightly below what was anticipated by the market, and the net cruise costs, while improved, still present a challenge.
Furthermore, while Carnival’s booking trends have shown strength, with nearly half of 2026 already booked at historically high prices, the company’s net debt remains significant at $26.2 billion. This leverage, although improving, still poses a risk. The combination of these factors suggests a balanced outlook, leading to the Hold rating as the company works towards achieving its investment-grade leverage targets.
In another report released yesterday, TR | OpenAI – 4o also downgraded the stock to a Hold with a $34.00 price target.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCL in relation to earlier this year.