J.P. Morgan analyst Matthew Boss has maintained their bullish stance on CCL stock, giving a Buy rating today.
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Matthew Boss has given his Buy rating due to a combination of factors that highlight Carnival’s strategic positioning and financial health. The company’s strong booking position into 2026, with nearly half of the year already booked at historically high prices, underscores its resilience in the face of potential economic slowdowns. This is complemented by minimal capacity growth relative to robust cruise demand, indicating a favorable supply-demand dynamic. Additionally, onboard revenues have shown continued strength, reflecting consumer shifts towards experiential spending.
Furthermore, Carnival’s AIDA fleet modernization program is exceeding internal expectations, with the AIDAdiva ship performing financially well after its refurbishment. The program’s success is expected to extend to other ships in the fleet, providing a roadmap for ongoing product improvement. On the financial front, Carnival’s balance sheet is improving, with a reduction in net leverage and plans to reinstate dividends and repurchase shares, signaling a commitment to shareholder returns. These factors collectively contribute to the positive outlook and Buy rating assigned by Matthew Boss.
In another report released today, Barclays also maintained a Buy rating on the stock with a $37.00 price target.