In a report released today, Kevin Kopelman from TD Cowen maintained a Buy rating on Carnival, with a price target of $36.00.
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Kevin Kopelman’s rating is based on several positive indicators for Carnival’s future performance. The introduction of Celebration Key, a new private destination, is anticipated to significantly boost revenue. With an expected 700,000 customers visiting in the second half of the year and projections for 2 million by 2026, this destination is likely to enhance net yield growth.
Furthermore, recent travel data suggests a favorable trend for Carnival. Despite some sluggishness in overall U.S. travel growth, outbound travel remains solid, and European markets are showing strong performance. The positive booking trends reported by Carnival and other cruise lines, along with robust trading environments in Europe, contribute to a promising outlook for the company’s revenue growth.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $37.00 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.