Carnival Analysts Boost Their Forecasts After Q2 Results

Carnival Corporation CCL reported a narrower-than-expected loss for its second quarter.

Carnival reported second-quarter revenue of $4.91 billion, which beat the consensus estimate of $4.77 billion. The cruise company reported a quarterly adjusted loss of 31 cents per share, which beat estimates for a loss of 34 cents per share.

Carnival shares fell 7.6% to close at $14.60 on Monday and added 0.6% in today’s pre-market trading session.

These analysts made changes to their price targets on Carnival following earnings announcement.

• Wells Fargo raised the price target on Carnival from $13 to $15. Wells Fargo analyst Daniel Politzer maintained an Equal-Weight rating.
• Morgan Stanley boosted the price target on Carnival from $7 to $11.5. Morgan Stanley analyst Jamie Rollo maintained an Underweight rating.
• Susquehanna increased Carnival price target from $11 to $17. Susquehanna analyst Christopher Stathoulopoulos maintained the stock with a Positive rating.
• Citigroup analyst James Hardiman, meanwhile, reiterated Carnival with a Buy and maintained $18 price target.

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