Carnival Cruise analysts lift stock price targets after earnings | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Ahoy, there, Josh Weinstein, how are things going with Carnival Corp. (CCL) ?

“Another quarter on the books and another set of phenomenal results,” the chief executive of the world’s largest cruise company told analysts. “This marks eight quarters in a row we have achieved record revenues on record yields.”

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On June 24 the Miami company posted stronger-than-expected second-quarter results and boosted its full-year outlook.

“You know, investors often ask me, ‘can margins get above 2019 levels?'” Weinstein said, referring to the pre-Covid-19 pandemic days. “Well, as I’ve always answered, I never thought of 2019 as a ceiling. And we’ve now proven that out.”

The travel industry, and cruising in particular, was hit hard by the 2020 pandemic, which sparked travel bans and resulted in a cumulative 1.17 million jobs lost worldwide and $77 billion in global losses.

Times have changed, though, and Weinstein said that “this past quarter’s margins were the highest we’ve achieved in nearly 20 years.”

Carnival Cruise’s CEO said the company had another quarter of ‘phenomenal results.’

Image source&colon; Carnival Cruise Line

Carnival CEO takes note of the Mideast conflict

The cruise sector overall is on an upswing, according to the Cruise Lines International Association. The trade group said first-time cruisers were driving growth, with 31% of passengers in the past two years being new to cruise.

Bud Darr, the association’s president and CEO, said cruising “continues to be one of the most dynamic and resilient sectors in tourism, growing in line with strong demand for cruise holidays, particularly among younger generations and new-to-cruise travelers.”

During his talk with analysts, Weinstein took time to discuss the Iran-Israel conflict.

“The escalation of the past two weeks culminating over the last few days has been swift,” he said. “While we certainly hope for a quick and peaceful resolution, and it has not yet had any discernible impact on our business, this is all unfolding too quickly in real time to try to project how it could impact our future business.”

“Like many others, we will actively monitor the situation over the coming days and weeks to evaluate its potential effects on our business and provide updates as needed,” Weinstein added.

President Donald Trump told reporters on Wednesday that the US would meet with Iran next week about a potential nuclear agreement, though he has said repeatedly that he doesn’t believe such a deal “is that necessary,” CNN reported.

Carnival is counting down the days to the opening of Celebration Key, Weinstein said, referring to a cruise-port destination exclusively for Carnival passengers. It’s slated to open July 19.

Built over the past three years at a cost of $500 million, the 65-acre site features massive freshwater lagoons, a 10-story sun castle with waterslides, and the world’s largest swim-up bar.

“You know, it’s gratifying to see that already Celebration Key is consistently ranked among the most searched cruise destinations on Google, and it hasn’t even opened yet,” Weinstein said.

Carnival analysts raise price targets on the stock

Carnival’s stock is up about 2% in 2025 and up about 43% from a year ago.

Investment firms issued research reports following the company’s earnings release, including Stifel, which raised its price target on Carnival to $34 from $33 and affirmed a buy rating on the shares.

Carnival’s Q2 report beat its guidance and its latest outlook and commentary were also better than expected, the investment firm said, according to The Fly.

Stifel remains focused on CCL’s bookings, and while there “certainly have been short-lived demand blips over the last couple of months,” the analysts don’t see any evidence that “makes us believe cruise demand is fading.”

Barclays raised its price target on Carnival to $33 from $30 while maintaining an overweight rating.

Carnival’s report and outlook beat analysts’ estimates in a quarter that included President Trump’s tariff reveal and the escalating Mideast conflict, Barclayssaid.

Management’s “confident tone” regarding low-income consumers, private islands, long-term targets and new loyalty program “should all help to keep the wind” at the company’s back, the investment firm said.

And JP Morgan raised its price target on Carnival to $34 from $31 and maintained an overweight rating.

The investment firm sees a “prudent” second-half bar for Carnival to clear. Management’s highlight of improvements across the entire portfolio are exceeding expectations on returns and are in the “early innings,” JP Morgan said.