A Bull Market Is Coming: 3 Reasons to Buy Carnival Stock
The marketwide rally from October 2022's low has some suggesting the beginning of a new bull market (definitions vary). But even if it isn't, statistics suggest the end of the bear market could be near. One more decent market rally could do the trick. Then the biggest risk becomes missing out on the earliest days of a long-term recovery, which happens to be the most bullish portion of a new bull market. If the next bull market is underway, investors will want to consider buying into a downtrodden stock like cruise company Carnival Corp. (NYSE: CCL).
Yes, Carnival has had its problems of late. The COVID-19 pandemic was downright disastrous for the business. It's still feeling the pandemic's fiscal impact, in fact, remaining operationally in the red. The heavily indebted outfit is also feeling the sting of higher interest rates at the same time inflation is increasing its costs. Meanwhile, the analyst community isn't exactly helping the stock's bullish case. The current consensus price target of $13.12 is 10% below the stock's present price.
Despite the problems, there are three key factors working in Carnival stock's favor. They may combine to help tip the scales back toward net bullishness for this travel stock.
Source Fool.com
Carnival plc Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Carnival plc stock is not clear.
As a result the target price of 13 € shows a slightly positive potential of 3.83% compared to the current price of 12.52 € for Carnival plc.
