Carnival Stock Has 29% Upside, According to 1 Wall Street Analyst
Conflict and piracy in and around the Red Sea have thrown a monkey wrench into the travel plans of cruise ship companies that operate there. Carnival Corp. (NYSE: CCL), in particular, suffered a minor setback on Monday, when analysts at Susquehanna International Group said they would tweak their price target lower, to $22 per share. As the analyst explained in a note covered on TheFly.com, "certain itineraries" around the Red Sea have been rerouted, and others canceled outright.
Despite this setback, Susquehanna's $22 price target still implies that Carnival stock will gain about 29% over the next year -- not bad for a stock that already nearly doubled over the last year.
Susquehanna's note focuses on the short-term implications of Red Sea events for Carnival's Q1 earnings results, tempering optimism about the company's performance during the upcoming "2024 Wave Season" -- i.e. "Summer," or "Q3" to investors. But the story surrounding this cruise line stock's comeback is a whole lot bigger than just one quarter.
Source Fool.com
Carnival plc Stock
The community is currently still undecided about Carnival plc with 1 Buy predictions and 0 Sell predictions.
With a target price of 13 € there is a slightly positive potential of 3.42% for Carnival plc compared to the current price of 12.57 €.
