Citigroup Lowers Carnival (NYSE:CCL) Price Target to $35.00

Key Points

• Citigroup cut its price target on Carnival to $35 (from $39) while keeping a buy rating, a level that implies about a 46% upside from the stock's current price.
• Carnival delivered better‑than‑expected Q1 results (EPS $0.20 vs. $0.18 consensus), returned to profit, saw revenue rise 6.1%, and announced a $2.5 billion share repurchase under its Propel plan—factors that support upside to earnings and capital returns.
• Analyst views are mixed: MarketBeat shows a consensus Moderate Buy with an average target of $34.17, but fuel‑price risk and several recent target cuts pose near‑term headwinds.

Carnival (NYSE:CCL - Get Free Report) had its price target lowered by stock analysts at Citigroup from $39.00 to $35.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 46.17% from the stock's current price.

Several other analysts have also issued reports on the stock. Mizuho boosted their price target on shares of Carnival from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen lowered shares of Carnival from a "buy" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus lowered their target price on shares of Carnival from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Truist Financial reduced their price target on shares of Carnival from $34.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 24th. Finally, UBS Group increased their price objective on Carnival from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. Twenty research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Carnival presently has an average rating of "Moderate Buy" and a consensus target price of $34.17.

Carnival Stock Performance

Carnival stock traded down $0.25 during trading on Monday, hitting $23.95. The stock had a trading volume of 16,669,292 shares, compared to its average volume of 23,959,773. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The stock's 50 day moving average is $28.95 and its two-hundred day moving average is $28.82. Carnival has a 1 year low of $15.07 and a 1 year high of $34.03. The stock has a market cap of $29.67 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.07 and a beta of 2.42.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Carnival will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Carnival

A number of large investors have recently modified their holdings of CCL. BOCHK Asset Management Ltd bought a new stake in shares of Carnival in the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Carnival during the third quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Carnival in the fourth quarter worth about $26,000. Evolution Wealth Management Inc. bought a new stake in shares of Carnival in the 2nd quarter valued at about $25,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Carnival by 381.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after acquiring an additional 762 shares during the period. 67.19% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Carnival reported better-than-expected Q1 results, returned to profit (net income improvement) and showed solid bookings and operational progress; management announced a $2.5 billion share repurchase and updated long-term targets under its Propel plan. This supports upside to earnings per share and capital return expectations. Carnival delivers solid bookings and operational gains during Q1 amid rising fuel risks
• Positive Sentiment: Several sell‑side firms remain constructive: Bank of America (and others cited by Proactive) kept bullish views and HSBC upgraded Carnival from Hold to Buy — signaling resilient demand and room for multiple expansion if fuel costs normalize. Carnival delivers solid bookings and operational gains during Q1 amid rising fuel risks: analysts
• Positive Sentiment: Independent analyst pieces argue Carnival is better positioned vs. peers (e.g., NCLH) entering 2026 due to stronger demand, pricing and execution — a relative-strength story for investors focused on the sector. CCL vs. NCLH: Which Cruise Stock Is Better Positioned for 2026?
• Neutral Sentiment: Wells Fargo cut its price target from $40 to $37 but left an Overweight rating — suggesting confidence in Carnival’s medium-term story even as near-term assumptions (notably fuel) were adjusted. Wells Fargo lowers price target
• Positive Sentiment: Some firms raised targets or reiterated upside (one note moved its target to $39 and others retained bullish stances), which provides counterbalancing buy-side support. Carnival NYSE: CCL Price Target Raised to $39.00
• Negative Sentiment: Fuel-price risk remains the clearest short-term earnings headwind: multiple articles and analysts warn that sharply higher fuel costs could materially pressure full‑year margins and cash flow, which likely explains some downward pressure on the share price. How Carnival’s Profit Rebound, Buyback and Fuel Cost Concerns Has Changed Its Investment Story
• Negative Sentiment: Sanford C. Bernstein trimmed its price target and moved to Market Perform, reflecting more cautious near-term expectations — a tangible negative signal from a prominent research shop. Sanford Bernstein lowers target

Carnival Company Profile

Carnival Corporation NYSE: CCL is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.

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