BofA Securities Reiterates Buy Rating on Carnival Corporation (CCL)

BofA Securities analyst Andrew Didora reiterated a Buy rating and $24.00 price target on Carnival Corporation (NYSE: CCL).

The analyst comments "Carnival Corporation (CCL) will report 3Q24 results on Monday, September 30 before the market open. While we have seen cruise trends normalize throughout the year as the industry laps its first year of full utilization, demand trends in our pricing checks and card data have been stable (see our BofA on USA report for BAC aggregated credit and debit card data). Since CCL last guided in June, we have heard solid updates from Royal Caribbean (RCL), Norwegian Cruise (NCLH) and Viking Holdings (VIK) with fuel and currency a slight earnings tailwind into 4Q24. We modestly raise our 2024E EBITDA/EPS to $5,916M/$1.23 from $5,847M/$1.18 and maintain our Buy rating."

For an analyst ratings summary and ratings history on Carnival Corporation click here. For more ratings news on Carnival Corporation click here.

Shares of Carnival Corporation closed at $18.97 yesterday.

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