Carnival (CCL – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Steven Wieczynski from Stifel Nicolaus maintained a Buy rating on the stock and has a $33.00 price target.
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Steven Wieczynski has given his Buy rating due to a combination of factors that suggest a positive outlook for Carnival’s stock. The company is expected to raise its full-year guidance following strong demand and pricing trends, along with healthy booking patterns and robust onboard customer spending. These factors have contributed to a recent rally in the stock, and despite the current elevated investor expectations, there is still potential for further upside.
Additionally, Wieczynski highlights several catalysts that could drive the stock higher over the next six to twelve months. These include strong second-half bookings, favorable pricing, and the anticipated opening of Carnival’s private island, Celebration Key, which is expected to enhance pricing power. Furthermore, the company’s progress in debt refinancing and potential return to investment-grade status could enable capital returns to shareholders, adding to the stock’s attractiveness. Overall, these elements form the basis of Wieczynski’s optimistic view on Carnival’s future performance.
In another report released on June 9, J.P. Morgan also assigned a Buy rating to the stock with a $31.00 price target.
CCL’s price has also changed slightly for the past six months – from $25.830 to $24.510, which is a -5.11% drop .