Carnival to continue facing high food costs, FX headwinds says Argus

Argus analyst John Staszak keeps a Hold rating on Carnival after its Q2 results, noting that while the company’s adjusted EBITDA came in at the high end of the management’s guidance, the cruise line will continue to face high food costs and foreign exchange headwinds in FY23. The firm also believes that the stock is “fully valued” at current levels while cutting its FY23 EPS view to 6c from 10c and maintaining its FY24 EPS view at 98c.