Yahoo Finance Truist boosts Carnival Corporation price target
Truist raised its price target on Carnival Corporation (CCL) by $3 to $20 while maintaining a Hold rating on the stock. Analyst C. Patrick Scholes writes in his note that Carnival is facing increased competition from private company MSC Cruises, according to the industry executives he is talking to.
Market Domination anchors Josh Lipton and Julie Hyman discuss the results in the video above.
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This post was written by Stephanie Mikulich.
Video Transcript
Truest, raising its price target on Carnival from 17 to 20 the analysts noting, uh, note citing strong summer demand for cruise lines.
So, uh, T a true is saying they spoke with senior travel reservation industry executives, Right?
They studied the data.
Julie.
Bottom line, you know, in broad strokes talking about the industry, they say it was encouraging.
Um, and so if you get to the names, they actually have a hold still on Carnival.
They did raise their target.
But why the they say while we continue to envision rising tides lifting all boats, we often hear from travel executives that MS C cruises a value priced continues to target Carnival's customers on price.
So they're still in the sidelines on that one.
Yeah, at the same time.
Carnival, by the way, did say it finalised an agreement to order some new ships.
Um, and they they are not scheduled for delivery anytime soon.
2029 2031 and 2030 three.
But Josh Weinstein, the CEO, said, We're doubling down on the growth of Carnival cruise line.
That's their highest returning brand, he points out to keep up with incredibly strong demand.
So in other words, a sign that Carnival is investing in the business because they do foresee that growth continuing.
Yeah, true stays on the sideline with Carnival.
So what do they like?
They like Norwegian.
They also like Royal Caribbean, say it's the industry leader with extremely well received new ships.
