TD Cowen Lifts Carnival Corporation & plc (CCL) Target, Looks Beyond Caribbean Weakness

Company Overview - Carnival Corporation & plc (NYSE: CCL) is a Florida-based provider of leisure travel services, founded in 1972, operating through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other [4] Investment Ratings and Price Targets - TD Cowen raised the price target on Carnival Corporation to $38 from $35, maintaining a Buy rating, indicating an upside potential of 35.42% [1] - UBS also reaffirmed its Buy rating and $38 price target on Carnival Corporation, anticipating FY26 yield growth to be 0.3% higher than the company's projection of 2.5% [3] Earnings Outlook - Despite challenges in the Caribbean affecting earnings for Royal and Norwegian, underlying demand for cruises remains strong, with positive capacity dynamics expected through FY29 [2] - UBS lowered its reported net yield forecast for Carnival to 4% YoY, down from 4.4%, due to a more modest foreign exchange tailwind, while maintaining the FY28 net yield estimate at 2.5% YoY growth [3]