Carnival's post-pandemic recovery is not just a short-term boom, but an indication of more sustainable business strength, says JPMorgan.
Amid "continued demand momentum" for the cruise industry, JPMorgan is bullish on Carnival . The bank upgraded the cruise liner's shares to overweight from neutral in a Monday note. Analyst Matthew Boss also raised his price target to $16 from $11, implying more than 22% upside from Friday's close.
Boss underscored Weinstein's comments that Carnival is "no longer riding the coattails of a post-pause pent-up." "Multi-year, CCL has six private destinations around the Caribbean and is leveraging its land-based assets to drive further value creation into 2H25 with a meaningful expansion of Half Moon Cay by building a pier to bring larger ships and improve shoreside guest experience," said Boss.
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