Can Carnival Stock Reach $40 in 2026?

Carnival Corp. (NYSE: CCL) is 1 of the leaders successful the planetary cruise industry, with aggregate brands and much than 90 ships that service consumers successful antithetic corners of the world. Like its peers, Carnival was devastated erstwhile its operations were halted to forestall the dispersed of COVID-19. However, the institution has registered beardown fiscal show successful caller years.

This travel stock is trading astir $29 per stock close now. Can it ascent to $40 successful 2026? Here's however investors should deliberation astir Carnival arsenic we look astatine the remainder of this year.

Carnival has a superior way grounds implicit the past 36 months, arsenic its stock terms is up 180% (as of Jan. 15). On an annualized basis, the banal has risen astatine a 41% yearly clip. Based connected these immense gains, investors mightiness person much assurance that the institution tin support the momentum going for its investors. It would necessitate a 38% summation for the banal to spell from $29 to $40 successful astir 11 months' time.

The existent valuation supports the bull case. Carnival shares lone commercialized astatine a price-to-earnings (P/E) ratio of 14.7 astatine this writing. That's a immense discount to the 25.7 aggregate of the S&P 500 index. Should the banal adjacent the spread halfway with the benchmark, it introduces 37% upside from existent levels. That's an charismatic setup for prospective investors.

In fiscal 2021, Carnival posted a year-over-year gross alteration of 66%. And it reported an alarming $9.5 cardinal nett nonaccomplishment that year. Things person improved dramatically successful the years since those acheronian days. The institution posted grounds gross of $26.6 cardinal successful its past fiscal twelvemonth (ended Nov. 30, 2025) and grounds adjusted net income of $3.1 billion.

Onboard spending is simply a notable trend. This gross grew faster than summons sales. And it's a high-margin moneymaker for the business.

Demand remains robust. Carnival ended the 4th fourth with $7.2 cardinal successful lawsuit deposits, different record. This gives it precocious visibility into near-term trends. Given that cruises tin beryllium 25% to 50% cheaper than onshore resorts, it makes consciousness wherefore consumers who person a question itch would favour what Carnival offers. AAA estimates that 2026 volition spot different grounds fig of American travelers taking cruises.