Bank of America Securities analyst Andrew Didora has reiterated their bullish stance on CCL stock, giving a Buy rating on September 23.
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Andrew Didora has given his Buy rating due to a combination of factors that highlight Carnival’s strong market position and growth potential. The company’s fundamentals remain robust, with positive trends in cruise bookings and onboard spending, as evidenced by the recent acceleration in monthly cruise spend data. This growth trajectory is further supported by the opening of Celebration Key, which is expected to enhance net yield performance.
Additionally, Carnival is benefiting from ongoing deleveraging efforts, which are facilitated by minimal capital expenditures. The stock is currently trading at a valuation below its historical average, presenting a potential investment opportunity. Didora’s forecast for slight upside in net yield growth and alignment with consensus estimates for earnings and EBITDA further reinforce the Buy recommendation, suggesting confidence in Carnival’s financial outlook.
In another report released on September 23, Stifel Nicolaus also maintained a Buy rating on the stock with a $38.00 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.