UBS Group Cuts Carnival (NYSE:CCL) Price Target to $35.00

Key Points

• UBS cut its price target on Carnival from $38 to $35 while keeping a "buy" rating, implying about a 26.10% upside from the prior close.
• Carnival beat quarterly EPS ($0.20 vs. $0.18) and revenue expectations, and record 2026 bookings plus rising onboard spending suggest a continued demand recovery.
• Near-term risks include rebounding crude oil (above $100/bbl) and a flagged roughly $500M fuel headwind that could squeeze margins, compounded by recent insider selling and mixed analyst revisions.

Carnival (NYSE:CCL - Get Free Report) had its price target cut by equities researchers at UBS Group from $38.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 26.10% from the company's previous close.

CCL has been the subject of a number of other research reports. Wall Street Zen cut Carnival from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. William Blair reissued an "outperform" rating on shares of Carnival in a research report on Tuesday, March 3rd. TD Cowen reissued a "buy" rating on shares of Carnival in a research report on Tuesday, January 13th. The Goldman Sachs Group reduced their price objective on Carnival from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, March 11th. Finally, Mizuho lifted their price objective on Carnival from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, March 27th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.04.

Carnival Stock Down 0.8%

Shares of CCL stock traded down $0.23 on Monday, reaching $27.76. 19,741,131 shares of the company's stock traded hands, compared to its average volume of 24,681,719. Carnival has a 12-month low of $17.05 and a 12-month high of $34.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The company has a market capitalization of $34.39 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.23 and a beta of 2.48. The business's 50 day moving average price is $28.42 and its two-hundred day moving average price is $28.47.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities analysts forecast that Carnival will post 1.77 earnings per share for the current year.

Insider Buying and Selling at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the sale, the director owned 52,601 shares of the company's stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carnival

Several large investors have recently made changes to their positions in CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Carnival by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company's stock worth $2,191,000 after purchasing an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Carnival during the 1st quarter worth about $228,000. Empowered Funds LLC lifted its position in shares of Carnival by 61.6% during the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company's stock worth $594,000 after purchasing an additional 11,601 shares during the last quarter. Woodline Partners LP lifted its position in shares of Carnival by 41.9% during the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company's stock worth $1,729,000 after purchasing an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Carnival by 57.0% during the 2nd quarter. Baird Financial Group Inc. now owns 64,720 shares of the company's stock worth $1,820,000 after purchasing an additional 23,484 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Key Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Record 2026 bookings and rising onboard spending point to strong demand recovery and revenue upside, supporting longer-term earnings improvement. Read More.
• Positive Sentiment: Wall Street maintains multiple buy/overweight ratings and a median price target (~$35), which can underpin investor confidence and limit downside from short-term shocks. Read More.
• Neutral Sentiment: Today’s pullback is partly a technical/positioning move after a strong rally earlier this year; sector rotation and profit-taking are cited as drivers independent of a broad-market selloff. Read More.
• Neutral Sentiment: Recent analyst commentary and media coverage are fueling debate (buy ratings vs. short-term headwinds); these narratives can amplify intraday moves but don’t necessarily change fundamentals. Read More.
• Negative Sentiment: Crude oil has rebounded above $100/bbl amid geopolitical shipping tensions, reviving worries about higher bunker fuel costs that can compress cruise margins unless fares or hedges fully offset the rise. Read More.
• Negative Sentiment: Carnival flagged a roughly $500M fuel headwind and uneven trends in Europe that could limit near-term upside to margins and guidance. That vulnerability makes the stock sensitive to oil and macro headlines. Read More.
• Negative Sentiment: Notable insider sales and recent institutional position reductions have been reported, which can add selling pressure and influence perceptions of near-term conviction. Read More.
• Negative Sentiment: A recent research note flagged a negative near-term outlook for the upcoming quarter, adding to short-term caution among traders. Read More.

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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