Is Carnival Stock Going to $27? One Wall Street Analyst Thinks So. [Yahoo! Finance]
Carnival Corporation (CCL)
Last carnival corporation earnings: 4/3 12:51 pm
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Source: Yahoo! Finance
Despite strong demand for cruise vacations, the shares have been range-bound this year, but Stifel Financial analyst Steven Wieczynski believes a better-than-expected earnings release could send the stock higher. The analyst kept a buy rating on the shares and raised his price target from $25 to $27, representing upside of 44% from the current share price. Why buy Carnival stock Carnival is coming off a strong quarter, with record revenue, operating income, customer deposits, and bookings. Management said there is "unprecedented demand" for 2025. This could tee off another strong earnings report for the third quarter. As the company continues to pay down debt and reduce costs, more earnings growth should send the share price higher. The current consensus estimate has Carnival reporting adjusted earnings per share of $1.20 this year before increasing it again to $1.59 in fiscal 2025. However, Wieczynski believes Carnival could also beat next year's earnings estimate. Manageme
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