Selected stock price target news of the day - December 24th, 2024

By: Matthew Otto

Carnival Reports Record Results for 2024 and Optimistic Outlook for 2025

Carnival reported its financial performance for 2024 with full-year revenue reaching $25 billion, representing over 15% growth compared to the prior year. Net income totaled $1.9 billion, surpassing the guidance by $130 million, while adjusted EBITDA reached a record $6.1 billion—up more than 40% year-over-year.

Fourth-quarter revenue of $5.9 billion marked a 10% increase from 2023, with adjusted EBITDA of $1.2 billion, exceeding prior expectations by $80 million. Carnival also reported cumulative advanced bookings for 2025 at all-time highs in both occupancy and price.

Looking ahead, Carnival projects adjusted net income of approximately $2.3 billion for 2025, reflecting over 20% growth from 2024, with adjusted EBITDA expected to reach $6.6 billion. Despite higher operating costs, including increased advertising and dry-dock expenses, net yields are forecast to rise by 4.2% on a constant currency basis, exceeding record 2024 levels.

Carnival reduced its debt by over $8 billion since January 2023, achieving a net debt to adjusted EBITDA ratio of 4.3x, with interest expenses expected to decline by $200 million year-over-year in 2025. Sustainability milestones included a reduction of greenhouse gas emissions from ship fuel by 11% compared to the 2011 peak and a 44% reduction in food waste per person relative to 2019.

Analysts Raise Price Targets Amid Financial Performance and 2025 Outlook

Barclays analyst Brandt Montour yesterday reaffirmed an Overweight rating while increasing the price target from $31 to $32.
Stifel analyst Steven Wieczynski yesterday upheld a Buy rating and lifted the price target from $32 to $34.

Which Analyst has the best track record to show on CCL?

Analyst Matthew Boss (JPMORGAN) currently has the highest performing score on CCL with 5/5 (100%) price target fulfillment ratio. His price targets carry an average of $6.81 (37.44%) potential upside. Carnival stock price reaches these price targets on average within 75 days.

FDA Approves ALYFTREK™: Vertex’s Next-Generation CF Therapy Targets 31 Additional Mutations

Vertex Pharmaceuticals announced the U.S. FDA approval of ALYFTREK™ (vanzacaftor/tezacaftor/deutivacaftor), a once-daily, next-generation triple combination CFTR modulator for treating cystic fibrosis (CF) in individuals aged six and older with at least one F508del mutation or another responsive mutation.

This approval includes efficacy against 31 mutations previously unresponsive to other CFTR modulators, potentially benefiting 150 additional CF patients in the U.S. ALYFTREK’s Phase 3 clinical trials, involving over 1,000 participants across more than 20 countries and 200 sites, demonstrated non-inferiority to TRIKAFTA® in absolute change in ppFEV1 and significant reductions in sweat chloride levels, key markers of CF severity.

With over 92,000 individuals affected by CF globally, ALYFTREK aims to address unmet needs, particularly with its once-daily dosing. Approximately 75% of surveyed physicians identified convenient dosing as a critical need, highlighting ALYFTREK’s potential impact. The treatment also introduces a new standard for CFTR function improvement, contributing to Vertex’s portfolio of five approved CFTR modulators, now reaching two-thirds of the 68,000 eligible CF patients in over 60 countries..

Analysts Adjust Price Targets Following ALYFTREK Approval

Truist Securities analyst Joon Lee yesterday maintained a Buy rating but lowered the price target from $550 to $460.
Scotiabank analyst Greg Harrison yesterday maintained a Sector Perform rating while raising the price target from $426 to $430.
JP Morgan analyst Jessica Fye yesterday kept an Overweight rating and adjusted the price target from $503 to $500.

Which Analyst has the best track record to show on VRTX?

Analyst Andrew Fein (HC WAINWRIGHT) currently has the highest performing score on VRTX with 19/22 (86.36%) price target fulfillment ratio. His price targets carry an average of $142.5 (36.31%) potential upside. Vertex Pharmaceuticals stock price reaches these price targets on average within 177 days.

Neurocrine Biosciences Launches CRENESSITY for Classic Congenital Adrenal Hyperplasia (CAH)

Neurocrine Biosciences has announced the U.S. availability of CRENESSITY™ (crinecerfont), a first-in-class treatment for classic congenital adrenal hyperplasia (CAH). This rare genetic condition affects approximately 30,000 individuals in the U.S., with about 95% of cases resulting from 21-hydroxylase (21-OH) enzyme deficiency.

CRENESSITY was recently approved by the U.S. Food and Drug Administration (FDA) and is designed to help patients aged four years and older reduce glucocorticoid doses while maintaining or improving androgen levels. Available as capsules (50 mg and 100 mg) and an oral solution (50 mg/mL), CRENESSITY is expected to provide relief to thousands of patients and improve quality of life by addressing the limitations of traditional high-dose steroid treatments.

The FDA approval was supported by data from the CAHtalyst™ Phase 3 studies, which included 285 participants—103 pediatric patients aged 4 to 17 and 182 adults aged 18 to 58. These trials demonstrated benefits, such as improved androgen control within four weeks and glucocorticoid dose reductions over 20 to 24 weeks.

Analysts Maintain Positive Outlook After CRENESSITY Launch

Piper Sandler analyst David Amsellem yesterday reiterated his Overweight rating and a $160 price target.
Barclays analyst Carter Gould yesterday maintained his Overweight rating, but raised the price target from $160 to $165.

Which Analyst has the best track record to show on NBIX?

Analyst Brian Abrahams (RBC) currently has the highest performing score on NBIX with 18/18 (100%) price target fulfillment ratio. His price targets carry an average of $21.34 (19.11%) potential upside. Neurocrine Biosciences stock price reaches these price targets on average within 127 days.