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Research Alert: CFRA Keeps Hold Opinion On Shares Of Carnival Corp.
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Research Alert: CFRA Keeps Hold Opinion On Shares Of Carnival Corp.
Mar 30, 2026 6:21 AM

09:10 AM EDT, 03/30/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $2 to $26, representing 12x our FY 26 (Nov.) EPS estimate, below its 16x long-term average forward multiple, reflecting heightened fuel cost and travel spending risks. We lower our FY 26 EPS to $2.21 from $2.36 and FY 27 to $2.58 from $2.62, reflecting resilient net yield growth (CCL raised FY 26 guidance to 2.75% Y/Y in constant currency) offset by significantly higher fuel expenses (CCL lowered FY 26 net income guidance by approximately 10%). Our Hold opinion reflects ongoing strength in cruise demand, operational efficiency gains, and a new $2.5B share repurchase program, offset by CCL's unhedged fuel position, which could reduce net income by $500M even if oil prices ease to the $80 per barrel range. Record bookings extending into 2028 and nearly 85% of FY 26 capacity already booked at historically high prices suggest near-term demand visibility is strong, though we remain cautious on sustainability given elevated pricing and potential macroeconomic headwinds.

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