The Zacks Analyst Blog Highlights Royal Caribbean Cruises, Carnival and Norwegian Cruise Line

For Immediate Release

Chicago, IL – January 14, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Royal Caribbean Cruises Ltd. RCL, Carnival Corp. & plc CCL and Norwegian Cruise Line Holdings Ltd. NCLH.

Here are highlights from Tuesday’s Analyst Blog:

3 Cruise Line Stocks in Focus on Expected Demand Strength in 2026

The cruise industry is benefiting from strong demand for cruising and increased booking volumes. The industry is benefiting from solid bookings concerning North American and European sailings. Also, strong pricing (on closer-in-demand) and solid onboard spending bode well for the industry.

AAA projected the number of Americans set to travel on ocean cruises in 2026 would reach a record high of 21.7 million. This is an increase of 4.5% year over year. Other positives include repeat cruisers, and interest in diverse experiences like premium, luxury, river and themed sailings. Cruise operators are investing in new hardware, including mega-ships and private destinations, to acquire new customers.

At this stage, it will be prudent to closely focus on cruise line operators. A few such operators have strong near-term upside left. Three among them are Royal Caribbean Cruises Ltd., Carnival Corp. & plc and Norwegian Cruise Line Holdings Ltd.. Each of our picks currently carries a Zacks Rank # 3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises is benefiting from a strong demand environment and robust booking trends. Also, strength in consumer spending onboard and pre-cruise purchases bodes well. RCL emphasized investing in the digital front, fleet expansion, private destination portfolio and guest experience to drive growth.

RCL is increasingly integrating artificial intelligence and data analytics into its commercial and digital platforms to enhance guest experiences and improve revenue optimization. Looking ahead, RCL plans to debut Legend of the Seas in 2026. In addition, RCL recently entered a long-term agreement with Meyer Turku, securing shipbuilding slots through the next decade.

The agreement includes a confirmed order for Icon 5, scheduled for delivery in 2028, and an option for a seventh Icon Class ship, underscoring RCL's commitment to continuous innovation and disciplined expansion.

Strong Earnings Estimate Revisions for RCL

Royal Caribbean Cruises has an expected revenue and earnings growth rate of 9.3% and 14.1%, respectively, for the current year. The Zacks Consensus Estimate for the current year's earnings has improved 0.01% over the last 60 days.

The average price target of brokerage firms represents an increase of 9.6% from the last closing price of $301.13. The brokerage target price is currently in the range of $270-$415. This indicates an upside of 37.5% and a downside of 10.3%.

Carnival Corp. & plc

Carnival is benefiting from sustained demand strength, increased booking volumes and the destination strategy. During fiscal 2025, yields increased 5.5%, exceeding management's guidance by nearly 1.5%.

CCL is currently approximately two-thirds booked, in line with the prior year but at historically high prices across both North America and Europe. Looking ahead, CCL expects this momentum to carry into fiscal 2026, with management pointing to another year of double-digit earnings growth and return on invested capital projected to exceed 13.5%, nearing a 20-year high.

With a stronger financial foundation and a diversified portfolio of established brands and destinations, CCL remains focused on sustaining yield improvements and supporting earnings visibility over the medium term.

Solid Earnings Estimate Revisions for CCL

Carnival has an expected revenue and earnings growth rate of 4.2% and 12.4%, respectively, for the current year (ending November 2026). The Zacks Consensus Estimate for the current year's earnings has increased 5.4% over the last 30 days.

The average price target of brokerage firms represents an increase of 17.7% from the last closing price of $31.61. The brokerage target price is currently in the range of $31-$46. This indicates an upside of 45.5% and a downside of 1.9%.

Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line is benefiting from strong consumer demand and a solid booking environment. Also, a focus on strategic investments in destination enhancements, including new amenities at Great Stirrup Cay and luxury fleet upgrades, to enhance future yield and guest experience, bodes well.

NCLH forecasts net yield growth of approximately 3.5% to 4% in the fourth quarter, balancing higher occupancy levels with modest pricing adjustments. NCLH is leveraging data analytics to personalize pre-cruise interactions and boost ancillary revenues.

Impressive Earnings Estimate Revisions for NCLH

Norwegian Cruise Line has an expected revenue and earnings growth rate of 10.2% and 26.9%, respectively, for the current year. The Zacks Consensus Estimate for the current year's earnings has improved 0.8% over the last 30 days.

The average price target of brokerage firms represents an increase of 10.7% from the last closing price of $26.95. The brokerage target price is currently in the range of $19-$40. This indicates an upside of 48.4% and a downside of 29.6%.

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