Carnival (NYSE:CCL) Given New $35.00 Price Target at Citigroup

Carnival (NYSE:CCL) had its target price cut by Citigroup from $39.00 to $35.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

CCL has been the subject of several other reports. Morgan Stanley raised shares of Carnival from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Carnival from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Stifel Nicolaus cut their price target on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. William Blair reissued an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. Finally, Sanford C. Bernstein lowered their price objective on Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a research note on Monday. Twenty investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.17.

Carnival Price Performance

Shares of CCL opened at $23.92 on Monday. Carnival has a 12-month low of $15.07 and a 12-month high of $34.03. The business’s fifty day moving average is $28.85 and its 200 day moving average is $28.75. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The stock has a market cap of $29.63 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.07 and a beta of 2.42.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. Carnival’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. Sell-side analysts anticipate that Carnival will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. Auto Owners Insurance Co increased its stake in Carnival by 2,954.0% in the 4th quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock valued at $60,625,000 after buying an additional 19,201,000 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Carnival in the 4th quarter worth approximately $429,448,000. Holocene Advisors LP boosted its stake in shares of Carnival by 184.3% in the 2nd quarter. Holocene Advisors LP now owns 10,289,947 shares of the company’s stock worth $289,353,000 after buying an additional 6,669,935 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Carnival by 2,432.8% in the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock valued at $204,311,000 after acquiring an additional 6,425,822 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Carnival by 99.6% during the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock valued at $351,535,000 after acquiring an additional 6,066,336 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Q1 beat and record bookings — Carnival reported a revenue and EPS beat for Q1, with management saying ~85% of 2026 bookings are already on the books and cumulative future-year bookings hit a first-quarter record; that underpins near-term demand and revenue visibility. Carnival delivers solid bookings and operational gains during Q1 amid rising fuel risks: analysts
• Positive Sentiment: Shareholder returns & PROPEL roadmap — Management launched the PROPEL strategic plan with long-term targets, reinstated a dividend and authorized a $2.5B buyback, indicating commitment to returning cash and improving ROIC. Carnival delivers solid bookings and operational gains during Q1 amid rising fuel risks: analysts
• Positive Sentiment: BofA and other bullish calls — BofA continues to back CCL with a high $45 price target (citing ~86% upside) and several brokers have reiterated Buy/Overweight ratings despite some lower targets. Why This Top Analyst Expects Carnival Stock To Explode 86%
• Neutral Sentiment: Relative industry positioning — Analysts note Carnival looks better positioned versus Norwegian (NCLH) on demand, pricing and execution, which supports a preference for CCL among cruise names. CCL vs. NCLH: Which Cruise Stock Is Better Positioned for 2026?
• Neutral Sentiment: Analyst price target moves — Several firms (Citigroup, Wells Fargo, Sanford Bernstein) trimmed price targets or adjusted ratings but largely maintained constructive stances — evidence of cautious optimism rather than panic. Carnival (NYSE:CCL) Price Target Raised to $39.00
• Negative Sentiment: Rising fuel costs — A recent oil-price spike is the main near-term risk: Carnival doesn’t hedge fuel fully, so higher bunker prices could meaningfully compress margins and was cited by multiple analysts as the reason for downward target adjustments. An Oil Price Shock Is Hurting Carnival Stock. But Is It a Buy Now in Hopes of a Quick Turnaround?
• Negative Sentiment: Technical/headline risk — The stock faces technical pressure (50-day vs 200-day moving averages) and could attract short-term selling from momentum players if oil-driven margin worries persist. Market commentary on technicals and sector trends

About Carnival

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.