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Investing.com - Mizuho raised its price target on Carnival Corporation (NYSE:CCL) to $37.00 from $35.00 on Thursday, while maintaining an Outperform rating on the cruise operator’s stock. The company, with a market capitalization of $39.48 billion and impressive revenue growth of 10.82% over the last twelve months, has shown strong operational momentum.
The investment firm expects Carnival to report third-quarter EBITDA of $2.92 billion, slightly above the company’s guidance of $2.87 billion and the Street consensus of $2.90 billion. According to InvestingPro data, Carnival’s current valuation appears fairly priced, with the company generating $6.82 billion in EBITDA over the last twelve months.
Mizuho views Carnival as "compelling" at only 8 times its 2026 estimated EBITDA, with shares down slightly over the last month despite positive long-term growth drivers.
The firm noted that "distracting headlines" over recent months have affected the stock, suggesting a solid third-quarter performance could serve as a "clearing event" for what it considers a compelling long-term investment case.
Mizuho highlighted several growth catalysts for Carnival, including the ramping up of its Celebration Key private island and the prospect of capital return to shareholders "on the horizon."
In other recent news, Carnival Corporation has seen several positive developments ahead of its upcoming earnings report. Stifel has raised its price target for Carnival to $38, maintaining a Buy rating, and expects the company to exceed expectations due to strong demand and stable onboard spending patterns. Similarly, BofA Securities reiterated its Buy rating with a $38 price target, noting a significant increase in cruise spending as evidenced by their credit card data. Goldman Sachs also raised its price target to $37, anticipating strong quarterly results following re-accelerating summer trends. Melius Research increased its price target to $36, highlighting Carnival’s ongoing turnaround and significant stock performance this year. Additionally, Seabourn, a luxury cruise line under the Carnival umbrella, announced that its vessel, Seabourn Encore, will sail to Alaska and British Columbia for the first time in the 2026 season, offering a variety of itineraries. These developments reflect a positive outlook for Carnival as it continues to navigate the cruise industry’s recovery.
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