Carnival Corp.

  • TickerCCL
  • ISINPA1436583006
  • ExchangeNew York Stock Exchange
  • SectorTravel & Leisure
  • CountryPanama
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
James Hardiman ... (+3)
  • James Hardiman
  • Sean Wagner
  • Matthew McCartney
Valens Research
  • Valens Research
CCL CARNIVAL CORP. (Travel & Leisure)

CCL - Embedded Expectations Analysis - 2021 05 24

Carnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.3x Uniform P/B. At these levels, the market is pricing in expectations for profitability to positively inflect, but management may have concerns about the vaccination progress, the potential of their new ships, and maintaining cost savings Specifically, management may have concerns about the progress of COVID-19 vaccination efforts, the sustainability of bookings acceleration, and disruptions to their cruise operations in Europe. In addition, they lack confidence in their ability to maintain...

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