Carnival Corporation: Robust Performance Expectation For 2024 Buoys Optimism (Rating Upgrade)

Summary:

• Carnival Corporation’s stock price surged in recent months, driven by better-than-expected Q3 2024 results and upgraded full-year guidance.
• Even though Q4 2024 figures are set to be lackluster, 2024 performance and outlook for 2025 should make up for it when the company releases results later this week.
• 2025’s forward P/E also indicates decent valuations, which should override any current concerns on overvaluation.

Since I last wrote about the cruise stock Carnival Corporation (NYSE:CCL) in September, its price is up by a huge 38%. This is at odds with the then Hold rating on the stock, which was

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in CCL over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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