Carnival (NYSE:CCL) Stock Price Expected to Rise, Freedom Broker Analyst Says

Key Points

• Freedom Broker raised Carnival’s price target from $35 to $36 and maintained a “buy” rating, implying 43.8% upside from the reported $25.04 share price.
• Analyst sentiment remains broadly positive: Carnival has a consensus “Moderate Buy” rating and an average price target of $34.14, despite some firms reducing their targets.
• Carnival exceeded quarterly expectations with $1.43 in EPS and $8.44 billion in revenue, while strong bookings and customer deposits supported its fiscal 2026 EPS outlook of $2.24; higher fuel costs remain a potential headwind.

Carnival (NYSE:CCL - Get Free Report) had its price target raised by analysts at Freedom Broker from $35.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Freedom Broker's price target indicates a potential upside of 43.80% from the stock's current price.

A number of other equities analysts also recently issued reports on CCL. Wells Fargo & Company cut their price target on Carnival from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Thursday. Citigroup increased their price target on Carnival from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. UBS Group restated a "buy" rating and set a $36.00 price objective on shares of Carnival in a research note on Wednesday. Freedom Capital raised shares of Carnival to a "strong-buy" rating in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $28.70 price objective on shares of Carnival in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.14.

Carnival Stock Up 2.0%

NYSE CCL traded up $0.49 during mid-day trading on Thursday, hitting $25.04. The company's stock had a trading volume of 16,789,505 shares, compared to its average volume of 24,193,014. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.18 and a beta of 2.31. The company's 50 day simple moving average is $25.24 and its 200 day simple moving average is $26.32. The company has a current ratio of 0.27, a quick ratio of 0.29 and a debt-to-equity ratio of 1.54. Carnival has a twelve month low of $21.45 and a twelve month high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Tuesday, September 29th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.39 billion. Carnival had a net margin of 11.37% and a return on equity of 24.83%. The business's revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS. Analysts anticipate that Carnival will post 2.24 earnings per share for the current year.

Hedge Funds Weigh In On Carnival

Several institutional investors and hedge funds have recently bought and sold shares of CCL. QRG Capital Management Inc. raised its position in shares of Carnival by 36.8% in the second quarter. QRG Capital Management Inc. now owns 572,743 shares of the company's stock valued at $16,363,000 after purchasing an additional 154,101 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Carnival by 261.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 91,409 shares of the company's stock valued at $2,612,000 after buying an additional 66,100 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Carnival by 330.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,827,261 shares of the company's stock valued at $109,345,000 after acquiring an additional 2,938,650 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Carnival by 25.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 69,664 shares of the company's stock valued at $1,990,000 after acquiring an additional 14,273 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Carnival by 37.1% during the second quarter. Tidal Investments LLC now owns 130,662 shares of the company's stock worth $3,733,000 after acquiring an additional 35,373 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Record results and raised outlook: Carnival reported third-quarter adjusted EPS of $1.43 and revenue of $8.44 billion, exceeding analyst expectations. Record net income, revenue and net yields prompted the company to raise its fiscal 2026 EPS outlook to $2.24 and improve its adjusted profit forecast. Carnival Corporation earnings release
• Positive Sentiment: Exceptional forward demand: Approximately half of Carnival’s 2027 inventory is already booked at record occupancy and prices, while customer deposits reached about $7.6 billion. Management also plans disciplined capacity growth, supporting pricing and revenue visibility. Carnival booking demand report
• Positive Sentiment: Analyst support remains favorable: Barclays reaffirmed its Buy rating, while Argus and Wells Fargo maintained bullish ratings despite lowering their price targets to $30 and $34, respectively. The revised targets still imply meaningful upside from recent trading levels.
• Positive Sentiment: Options activity reflects optimism: Traders bought a high volume of Carnival call options, suggesting increased speculative interest following the earnings beat. Carnival call options report
• Neutral Sentiment: Holland America Line, Carnival’s subsidiary, opened bookings for its 2028 Canada and New England season, offering expanded Montréal itineraries. The announcement supports long-term brand demand but is unlikely to materially affect near-term earnings. Holland America 2028 season announcement
• Negative Sentiment: Fuel costs rose sharply, and Carnival warned of near-term seasonal and fuel-related headwinds. Several analysts lowered price targets, while BMO Capital assigned a Hold rating, limiting some of the bullish reaction.

About Carnival

Carnival Corporation & plc NYSE: CCL is a global leisure travel company that operates cruise lines and related vacation businesses. Its brands offer ocean cruises, onboard entertainment, dining, accommodation, excursions and other travel experiences to passengers across a range of price points and destinations.

The company's portfolio includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, P&O Cruises, P&O Cruises Australia, AIDA Cruises and Costa Cruises.

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