Carnival Stock Price Targets Raised by Wall Street Analysts as Cruise Demand Strengthens

Carnival Corp. (LON: CCL) (NYSE: CCL) has received a series of price target raises from major banks, even as its shares remain down about 7.2% year to date. 

The stock is still up roughly 10.1% over the past 12 months, and TradingView data shows 21 of 28 analysts now rate the shares a buy, with seven assigning a sell rating.

In the most recent move, Truist on Thursday lifted its price target to $34 from $31 while reiterating a hold rating. 

The firm said discussions with senior travel-industry executives and analysis of forward bookings suggest supply in the mass-market cruise segment is still running slightly ahead of demand. 

Truist also warned that investors should keep expectations relatively low for first-half net yield growth.

TD Cowen last week raised its price target for CCL to $38 from $35 and maintained a buy rating. 

The bank said strong underlying cruise demand and favourable capacity trends through fiscal 2029 outweigh near-term pressures in the Caribbean, which it expects will lead to a difficult earnings season for Royal Caribbean and Norwegian. 

TD Cowen added that it sees potential upside for Carnival this year as investors look beyond temporary regional headwinds.

Meanwhile, BofA increased its target to $45 from $40, pointing to aggregated credit and debit card data showing December cruise spending rose 10.5% year on year.

The bank highlighted the category’s resilience, noting that overall travel spending declined during the month, including drops in airline and hotel outlays.