Carnival (NYSE:CCL) Upgraded to “Buy” at HSBC

HSBC upgraded shares of Carnival (NYSE:CCL) from a hold rating to a buy rating in a research note published on Monday, MarketBeat.com reports. They currently have $30.10 price objective on the stock, down from their previous price objective of $33.60.

A number of other research analysts also recently weighed in on CCL. William Blair reissued an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. Sanford C. Bernstein upped their target price on Carnival from $26.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Stifel Nicolaus lowered their price target on Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Truist Financial dropped their price target on shares of Carnival from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 24th. Finally, Barclays reduced their price objective on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Twenty analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.17.

Carnival Trading Down 1.1%

Shares of NYSE:CCL opened at $23.92 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $29.63 billion, a PE ratio of 10.63, a P/E/G ratio of 1.07 and a beta of 2.42. Carnival has a 1 year low of $15.07 and a 1 year high of $34.03. The firm has a fifty day moving average price of $28.85 and a 200 day moving average price of $28.75.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Carnival by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock valued at $2,191,000 after acquiring an additional 5,435 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Carnival in the 1st quarter worth approximately $228,000. Empowered Funds LLC lifted its position in shares of Carnival by 61.6% in the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock worth $594,000 after acquiring an additional 11,601 shares during the period. Woodline Partners LP grew its holdings in shares of Carnival by 41.9% during the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock worth $1,729,000 after purchasing an additional 26,141 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Carnival during the 2nd quarter worth approximately $876,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival News Summary

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.