J.P. Morgan analyst Matthew Boss has maintained their bullish stance on CCL stock, giving a Buy rating on June 6.
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Matthew Boss has given his Buy rating due to a combination of factors that highlight Carnival’s strong performance and strategic improvements. The company has demonstrated resilience against macroeconomic volatility, with a notable net yield growth and occupancy expansion in the first quarter. This performance was supported by effective digital engagement and revenue management strategies, which have helped attract the right consumers and enhance onboard spending.
Furthermore, Carnival’s strategic actions over the past two years, such as appointing new brand presidents and retiring less profitable ships, have positioned the company for improved brand clarity and pricing power. The focus on advertising and a smaller capacity growth profile allows management to concentrate on reducing debt, enhancing the company’s financial health. With a favorable risk/reward setup and a conservative price target, Boss sees potential for further upside in Carnival’s stock.
In another report released on June 6, Citi also maintained a Buy rating on the stock with a $28.00 price target.