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The latest update is out from Carnival ( (CCL) ).
On February 12, 2026, Carnival plc amended its Amended and Restated Deposit Agreement with JP Morgan Chase Bank, N.A., revising the termination provisions governing its American Depositary Receipts program. The changes specify new triggers for ending the agreement, including 30 days’ notice by either the company or the depositary in various scenarios such as delistings, insolvency, lack of a successor depositary, or corporate transactions involving the underlying securities.
The agreement will also terminate automatically upon completion of the planned unification of Carnival Corporation and Carnival plc’s dual listed company arrangement and the migration of Carnival Corporation from Panama to Bermuda. Following such a termination, the depositary will seek to distribute new common shares of Carnival Corporation Ltd. to ADR holders or, if that is not possible, sell remaining deposited securities and distribute net proceeds, clarifying how ADR investors would be treated in the group’s proposed restructuring.
The most recent analyst rating on (CCL) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Carnival stock, see the CCL Stock Forecast page.
Spark’s Take on CCL Stock
According to Spark, TipRanks’ AI Analyst, CCL is a Outperform.
CCL’s score is driven primarily by improving fundamentals and a strong earnings-call outlook (record 2025 performance, guidance strength, and capital return actions) alongside supportive technical momentum. Offsetting factors are the still-leveraged balance sheet, weaker 2025 free-cash-flow conversion, and margin/cost pressures noted in both the financial statements and 2026 cost guidance.
To see Spark’s full report on CCL stock, click here.
More about Carnival
Carnival plc operates in the global cruise and leisure travel industry, offering ocean cruise vacations and related services across multiple brands. The company targets mass-market and premium travelers worldwide, with its shares listed in both the U.S. and U.K. through a dual listed company structure with Carnival Corporation.
Average Trading Volume: 20,649,467
Technical Sentiment Signal: Buy
Current Market Cap: $46.1B
For detailed information about CCL stock, go to TipRanks’ Stock Analysis page.