Professional
Added to YB: 2024-01-12
Pitch date: 2024-01-12
CUK [bullish]
Carnival Corporation Ltd.
+61.5%
current return
Author Info
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Company Info
Carnival Corporation Ltd., a cruise company, provides leisure travel services. The company operates through four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other.
Market Cap
$33.8B
Pitch Price
$16.38
Price Target
27.50 (+4%)
Dividend
2.39%
EV/EBITDA
7.45
P/E
11.07
EV/Sales
2.09
Sector
Hotels, Restaurants and Leisure
Category
turnaround
Carnival ($CUK): Rerating Carnival's Moat to Narrow as Brand Continues to Resonate With Consumers
CUK: Narrow moat from scale, brand & cost adv; 18% ROIC in 10yr. $27.50 FV w/ better debt cost & capacity mgmt. #1 share, 9 brands, 92 ships, underpenetrated focus. Confidence in safety/value + brand = occ & yield gains. Risks: media, costs, COVID; offset by scale & loyalty. FV up w/ longer moat & lower debt cost.
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