J.P. Morgan analyst Matthew Boss has maintained their bullish stance on CCL stock, giving a Buy rating on March 21.
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Matthew Boss has given his Buy rating due to a combination of factors that highlight Carnival’s strong financial performance and strategic positioning. The company reported a significant earnings beat in the first quarter, with adjusted earnings per share exceeding expectations. This was driven by higher-than-anticipated revenue, favorable net cruise costs excluding fuel, and lower interest and other costs.
Additionally, Carnival’s management has outlined a promising long-term strategy, aiming for a mid-teens return on invested capital over time. The company has shown resilience in its booking trends and onboard spending, with no signs of slowing down despite potential macroeconomic challenges. Furthermore, strategic initiatives such as new marketing campaigns and a focus on brand clarity and pricing power are expected to drive future growth. These factors, combined with a favorable risk/reward setup, underpin Boss’s optimistic outlook for Carnival’s stock.
In another report released on March 21, Stifel Nicolaus also reiterated a Buy rating on the stock with a $30.00 price target.