The stock price of Carnival Corporation has surged due to better-than-expected Q3 2024 results and an upgraded full-year guidance. While Q4 2024 results are anticipated to be lackluster, the overall performance for 2024 and the outlook for 2025 are expected to compensate for this. The forward P/E for 2025 suggests that the stock is reasonably valued, which should alleviate concerns about overvaluation. This combination of factors is likely to have a positive impact on the stock price in the short term.