Here's Why Carnival's Stock Price Is Still in Purgatory
When Carnival (NYSE: CCL) reported third-quarter 2023 earnings it was happy to note that it had record-level performance in some key metrics. So, in many ways, its business isn't just back to pre-pandemic levels, but exceeding them. Yet, unlike peer Royal Caribbean (NYSE: RCL), Carnival's stock hasn't recovered anywhere near pre-pandemic levels. Here's one important factor that helps explain the situation and something that investors should monitor.
Carnival's stock price is up some 60% over the past year. That's a huge price increase in a very short period, but the shares are still off by roughly two-thirds from where they started in 2020 before the coronavirus pandemic hit. By comparison, Royal Caribbean is up 90% over the past year and has clawed back to within striking distance of its pre-pandemic level, down just 9% or so from where it started in 2020.
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.
However, we have a potential of -2.8% for Carnival plc as the target price of 13 € is below the current price of 13.38 €.
