Professional
Added to YB: 2024-01-12
Pitch date: 2024-01-12
CUK [bullish]
Carnival Corporation & plc
+56.7%
current return
Author Info
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Company Info
Carnival Corporation & plc, a cruise company, provides leisure travel services in North America, Australia, Europe, and internationally.
Market Cap
$35.6B
Pitch Price
$16.57
Price Target
27.50 (+6%)
Dividend
2.33%
EV/EBITDA
8.13
P/E
12.74
EV/Sales
2.32
Sector
Hotels, Restaurants and Leisure
Category
turnaround
Carnival ($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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