JP Morgan raises Carnival PT to $39, maintains Overweight rating.

JP Morgan raises Carnival PT to $39, maintains Overweight rating.

JP Morgan has raised its price target for Carnival Corporation (CCL) to $39, maintaining an overweight rating on the stock Is Carnival Stock on Track to Return to Pre-COVID Highs?^[1]. This move comes as Carnival continues to rebound from the COVID-19 pandemic, posting record revenue and customer deposits in its fiscal 2025 second quarter Sciencast Management LP Invests $1.34 Million in Carnival Corporation $CCL^[2].

The investment bank's analyst, who covers CCL, noted that the company's strong performance and improving balance sheet have driven the upward revision. Carnival's shares have surged 222% over the past three years, but they remain 56% below their pre-COVID highs Sciencast Management LP Invests $1.34 Million in Carnival Corporation $CCL^[2]. Despite this, analysts expect the stock to continue its upward trajectory, with consensus estimates calling for earnings per share to increase by 23% between fiscal 2024 and fiscal 2027 Sciencast Management LP Invests $1.34 Million in Carnival Corporation $CCL^[2].

Institutional investors and hedge funds have also shown confidence in Carnival, with Vanguard Group and Sciencast Management LP increasing their stakes in the company Sciencast Management LP Invests $1.34 Million in Carnival Corporation $CCL^[2]. Additionally, several analysts have raised their price targets and ratings on CCL, with Susquehanna and Tigress Financial assigning buy ratings Sciencast Management LP Invests $1.34 Million in Carnival Corporation $CCL^[2].

JP Morgan's revised price target reflects the growing optimism among investors and analysts about Carnival's prospects. The company's ability to recover from the pandemic and its strong financial performance make it an attractive investment opportunity.