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Investing.com -- Carnival’s (NYSE: CCL) investor day left Stifel confident that the cruise operator’s booking and pricing trends remain resilient despite concerns over Caribbean capacity, the firm said in a new note following the event.
Stifel analysts, led by Steven Wieczynski, described the presentation as “a thorough overview of CCL’s current positioning in the cruise industry and long-term growth prospects.”
According to Stifel, management, including the chairman, CEO, CFO, and investor relations head, struck an optimistic tone.
“While CCL was somewhat guarded around current demand/pricing trends given they won’t report until late-December, we got the sense booking/demand patterns remain healthy, not only for bookings in 2026, but also out to 2027,” Wieczynski wrote.
Stifel addressed investor anxiety about potential oversupply in the Caribbean market, saying that “while there is mass fear about Caribbean capacity/pricing heading into 2026, if CCL is seeing it, we didn’t get that sense based on their body language/tone.”
The brokerage reiterated its Buy rating on Carnival shares with a $38 target price.
“With SEA Change targets now in the rearview mirror, we believe CCL will introduce a new set of long-term financial targets sometime in early-2026, which should be a catalyst,” Stifel said.