Stifel Rates Carnival (CCL) buy, $36 Price Target
Stifel has reiterated its Buy rating on Carnival Corporation with a price target of $36, reflecting optimism for the company's recovery, a 16.98% upside from the current price.
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Stifel rated Carnival Corporation Ltd. ($CCL) "buy" with a $36 price target on June 12, 2026.
Since the rating, $CCL is up 3.4% after 1 week, down 8.8% after 1 month and down 10.8% to date (from the $29.03 close on Jun 12, 2026).
CCL
Carnival Corporation Ltd.
Key Points
- Stifel reiterated its Buy rating on Carnival Corporation Ltd. with a target price of $36.00, up from its previous target.
- Stifel's $36 price target implies 16.98% upside from Carnival Corporation Ltd.'s ($CCL) current $30.77 share price.
- The stock is currently trading at $30.77, which is below its 52-week high of $34.03 but well above its low of $21.81.
- Analysts are generally optimistic about Carnival, with a consensus Buy rating among 26 analysts and a mean price target of $34.64.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carnival Corporation Ltd. alert may contain errors. Disclosures
Stifel has reiterated its Buy rating on Carnival Corporation Ltd. (NYSE: CCL) with a price target of $36.00. This update was made on June 12, 2026, and reflects confidence in the company's path to recovery. The stock is currently trading at $30.77.
Other Institutional Activity in Carnival Corporation
Several notable funds are also increasing their stakes in Carnival. Blackrock Inc. grew its holdings by 6,325,552 shares, ending with 96,304,948 shares worth about $2.49 billion. Vanguard Capital Management LLC added 9,206,045 shares, bringing its total to 82,678,077 shares valued at around $2.14 billion. Vanguard Portfolio Management LLC increased its position by 7,630,323 shares, totaling 62,406,507 shares worth approximately $1.61 billion. State Street Corporation raised its stake by 7,977,995 shares, ending with 58,217,260 shares valued at about $1.51 billion. Causeway Capital Management LLC added 4,095,320 shares, bringing its total to 41,190,606 shares, worth roughly $1.07 billion.
Carnival Corporation Ltd. Stock Up 16.3%
Currently, Carnival Corporation's shares are trading at $30.77, significantly above its recent low of $21.81 but below its 52-week high of $34.03. This price point suggests a potential for growth as analysts remain optimistic about the company's recovery prospects. The stock's performance reflects growing confidence in the leisure travel sector as it continues to rebound.
$CCL price target
Carnival Corporation Ltd. daily closes and this analyst's $36 target. Not advice.
Recent Earnings
In the most recent quarter, Carnival reported revenue of $27.31 billion, reflecting a growth rate of 5.3%. The company's earnings per share (EPS) stood at $2.22, with a net margin of approximately 11.2% and a return on equity (ROE) of 26.7%. The next earnings report is scheduled for September 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 3 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 upgrade, 1 target raise, 5 target cuts.
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Earnings quality
Gross margin up 0.9 points. Positive free cash flow.
Earnings Call Summary
Carnival posted strong first quarter results with record revenue, yields, and customer deposits near $8 billion. Net income jumped 55 percent year over year to $275 million. Demand remained robust with close-in bookings up 10 percent year over year and nearly 85 percent of 2026 sailings already booked at high prices. Management credited strong execution and higher onboard spending. However, geopolitical tensions and fuel price spikes created a $500 million headwind to full year guidance, which management offset with operational improvements of $150 million.
Guidance Carnival raised 2026 earnings guidance to $2.21 per share, up from prior December view, despite a $500 million fuel headwind. Management expects modest 2.75 percent yield growth and 3.1 percent cruise cost growth for the full year. They introduced PROPEL targets for 2029: greater than 16 percent return on invested capital, more than 50 percent earnings per share growth from 2025, and over 40 percent of operating cash returned to shareholders, roughly $14 billion.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Carnival Corporation pays an annual dividend of $0.45 per share, which yields about 2.06%. The company's dividend payout ratio is approximately 13.51%, indicating a balanced approach to returning value to shareholders while investing for growth.
Insider Buying and Selling at Carnival Corporation Ltd.
Recent insider transactions include Deynes Bettina Alejandra, an officer, who sold 43,058 shares at an average price of $28.10 on May 28, 2026. Chief Financial Officer David Bernstein sold 361,790 shares at an average price of $33.22 on February 10, 2026. Other transactions include directors Band Sir Jonathon and Subotnick Stuart A's sales, indicating ongoing activity by company insiders.
Analysts Set New Price Targets
On October 13, 2026, Tigress Financial maintains a Buy rating with a price target of $42.00. Freedom Broker also maintains a Buy rating but adjusts its target to $36.00 on October 1, up from $35.00. Argus Research keeps its Buy rating with a target of $30.00. Wells Fargo maintains an Overweight rating with a price target of $34.00, and Morgan Stanley upholds its Overweight rating with a target of $32.50.
About Carnival Corporation
Carnival Corporation Ltd. is a leading cruise company based in Miami, Florida. It provides leisure travel services through various segments, including North America and Europe Cruise Operations. The company not only operates cruise lines but also manages hotels and resorts, contributing to its diverse revenue streams. Analysts are looking to see how the company performs as the travel sector continues to recover post-pandemic.
Bottom Line
Investors should keep an eye on Carnival's upcoming earnings report on September 29, 2026, for insights into its recovery progress. Stifel's reiteration of a Buy rating and price target reflects ongoing confidence in the company's strategy and market position. Remember that the recent 13F filings show institutional positions may change, and these reports reflect holdings as of the reporting period.
Related Filing Alerts
Source: Stifel's rating change on $CCL (Jun 12, 2026). Written by software, not financial advice. How we make alerts