TD Cowen analyst Kevin Kopelman has maintained their bullish stance on CCL stock, giving a Buy rating today.
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Kevin Kopelman’s rating is based on several positive indicators for Carnival’s financial performance. The company has demonstrated solid and industry-leading yield growth, with net yields increasing by 4.6% in the third quarter and projected to rise to 5.3% by 2025. This growth is supported by strong revenue management systems and minimal capacity expansion, which reduces the burden of acquiring new customers.
Additionally, the introduction of Celebration Key, a new private destination, is expected to provide a significant boost to yields, offsetting potential headwinds from the company’s loyalty program. Despite the surprise increase in dry-dock costs for 2026, Kopelman has raised his estimates based on favorable yield projections, foreign exchange benefits, lower interest expenses, and a reduced share count. These factors collectively contribute to a positive outlook, justifying the Buy rating and an increased price target of $37.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $38.00 price target.