Carnival’s (LON: CCL) (NYSE: CCL) US-listed shares edged higher Wednesday after Stifel analyst Steven Wieczynski raised the firm’s price target on Carnival to $18 from $17.
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According to TheFly, Wieczynski said in his note to investors that he sees the stock as a Buy ahead of the company’s earnings release next week.
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Wieczynski Kept a Buy rating on the shares, adding that “cautiously optimistic” has to be “the single best phrase we can use to describe how we feel” ahead of Carnival’s “first crack at FY23 guidance.”
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However, he isn’t sure the company will provide EBITDA and EPS guidance along with its Q4 report due to the continued uncertain environment, although Wieczynski believes buyside expectations for EBITDA in 2023 are somewhere between $4 billion and $4.3 billion.
The analyst said the firm would be “buyers heading into their print as we believe their initial guide and current operating commentary will meet/beat expectations.”
On Monday, Credit Suisse lowered its price target on Carnival to $19 from $22, maintaining an Outperform rating on the stock. In a research note, a Credit Suisse analyst said Carnival is a buyside consensus underperform, but with high short interest, a strong balance sheet, and upside to street estimates in 2023/2024, they believe the company’s stock presents an attractive upside.
According to Shorttracker, three firms are short 2.69% of Carnival’s London-listed shares.
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