Susquehanna Raises Carnival Target to $33; Barclays Lowers to $35
CCL•Susquehanna lifted its Carnival Corp price target to $33 from $30 while Barclays trimmed its target to $35 from $36, both maintaining positive ratings on long-term cruise demand. Carnival reported Q2 revenue of $6.6B with $0.41 adjusted EPS beating forecasts and forecasted Q3 EPS of $1.35 below the $1.42 consensus.
1. Analyst Price Target Adjustments
Susquehanna raised Carnival’s price target to $33 from $30 while maintaining a Positive rating, citing temporary Europe deployment weakness. Barclays trimmed its target to $35 from $36 but kept an Overweight rating, noting second-half yield risks are largely reflected in guidance.
2. Q2 Financial Performance
Carnival generated $6.6 billion in Q2 revenue, slightly below the $6.7 billion analysts expected, and delivered $0.41 adjusted EPS, surpassing the $0.34 consensus. The earnings beat was driven by improved onboard spending and operational efficiencies across its global fleet.
3. Q3 Guidance and Booking Trends
For fiscal Q3, Carnival projects $1.35 per share in EPS, below the $1.42 consensus forecast, reflecting near-term pressure from European route disruptions. Forward bookings remain strong with record ticket prices and high ship occupancy extending into 2027.
