Carnival Just Hit 52-Week Highs. Can the Stock Continue Higher in 2024?
Cruise line stocks are in an interesting place at the end of 2023. On the one hand, demand is stronger than ever, as consumers are definitely back in "revenge travel" mode following the pandemic.
Yet, on the other hand, inflation and higher interest rates are a big counterweight to the bull case, as all major cruise companies are now loaded with debt -- a result of the emergency borrowing during the pandemic -- while also battling higher labor costs.
In 2023, investors in the largest cruise company in the world, Carnival Corp. (NYSE: CCL), apparently saw the good outweighing the bad, with the stock up a whopping 137% on the year in the wake of its recent fourth-quarter earnings report.
Source Fool.com
Carnival plc Stock
€13.30
0.040%
The community is currently still undecided about Carnival plc with 1 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 13 € is below the current price of 13.3 € for Carnival plc, so the potential is actually -2.26%.
