Carnival Corporation (CCL) PT Raised to $35 at Stifel; 'CDC Has No Grounds to Stand on Anymore; 'Booking Picture Remains Incredibility Healthy'

April 8, 2021 6:44 AM EDT
Get Alerts CCL Hot Sheet
Price: $27.09 -0.88%

Rating Summary:
    13 Buy, 13 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 10 | New: 9
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Stifel analyst Steven Wieczynski raised the price target on Carnival Corporation (NYSE: CCL) to $35.00 (from $30.00) while maintaining a Buy rating.

The analyst commented, "Slowly but surely it seems like the resumption of cruising, especially in North America, is becoming more of a reality. At this point, if cruise operations can commence in North America, even in some limited capacity/scale by the start of 3Q21, we believe the risk of additional dilutive equity/debt raises becomes less likely. This is turn should bring longer-term investors out of hibernation and allow them to start valuing CCL with more certainty. We continue to believe that the cruise vacation option will prove resilient over the long-term and have faith that loyal cruise customers will come back in full force (look at forward booking/pricing metrics). We expect CCL to emerge from this crisis as a leaner, more efficient company, which, combined with our continued confidence in the resilience of global cruise industry demand, strengthens our conviction in owing shares. Our revised $35 target price still shows ~21% upside."



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