{"id":21601,"date":"2023-06-12T13:48:13","date_gmt":"2023-06-12T17:48:13","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/carnivals-stock-soars-after-two-analysts-turn-bullish-as-cruise-demand-shifts-from-pent-up-to-sustainable\/"},"modified":"2023-06-12T13:48:17","modified_gmt":"2023-06-12T17:48:17","slug":"carnivals-stock-soars-after-two-analysts-turn-bullish-as-cruise-demand-shifts-from-pent-up-to-sustainable","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21601","title":{"rendered":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019"},"content":{"rendered":"
\n

Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just about a postpandemic recovery.<\/p>\n

BofA Securities analyst Andrew Didora raised his rating on Carnival\u2019s stock to buy after being at neutral since June 2020, while JPMorgan\u2019s Matthew Boss raised his rating to overweight after being in the neutral camp for at least three years.<\/p>\n

\n

The stock
\n CCL,
\n +13.56%<\/bg-quote><\/p>\n

CCL,
\n +12.66%<\/bg-quote>
\n shot up 14.5% in midday trading to put it on track for its highest close since May 2022, enough to pace the S&P 500\u2019s
\n SPX,
\n +0.47%<\/bg-quote>
\n advancers. It was headed for the biggest one-day gain since it rocketed a record 39.3% on Nov. 9, 2020.<\/p>\n

JPMorgan\u2019s Boss said his \u201ckey takeaway\u201d from a recent meeting with Carnival Chief Executive Officer John Weinstein was that the company was \u201cno longer riding the coattails of a post-pause pent-up demand,\u201d as demand from different customer types has returned to prepandemic balances, with \u201cnew-to-cruise\u201d demand inflecting this year.<\/p>\n

\u201cA key point from our meetings \u2014 millennials generally led the initial post-pandemic recovery across all travel sectors including within the cruise space,\u201d Boss wrote in a note to clients. \u201cImportantly in explaining the continued demand strength \u2014 [management] teams cited a recent inflection in\u00a0new-to-cruise pointing to sustainability (versus pent-up demand from loyalists seen a year ago),\u201d with new-to-cruise customers back to normalized, prepandemic levels.<\/p>\n

Boss was also upbeat about Weinstein\u2019s clearly stated intention not to issue any equity to boost liquidity, as Weinstein reiterated his intent in using excess liquidity to pay down debt.<\/p>\n

He raised his price target on Carnival\u2019s stock by about 45%, to $16 from $11.<\/p>\n

BofA\u2019s Didora said among his reasons for recommending investors start buying Carnival\u2019s stock is that credit risk has been reduced given that the company has \u201cplenty of liquidity\u201d and debt maturities are \u201cmanageable.\u201d He\u2019s also upbeat on how Weinstein has streamlined the company since taking the reins in August 2022 with a focus on revenue generation, and the fact that despite the stock\u2019s recent rally, valuation \u201cis not stretched by any metric.\u201d<\/p>\n

He raised his price target by 82%, to $20 from $11.<\/p>\n

The stock has soared 54.6% over the past three months, but its 35.6% gain over the past 12 months still trailed the 104.6% run-up in rival Royal Caribbean Group\u2019s shares
\n RCL,
\n +1.73%<\/bg-quote>
\n and Norwegian Cruise Line Holdings Ltd. stock\u2019s
\n NCLH,
\n +7.66%<\/bg-quote>
\n 41.5% rally over the same time period. The S&P 500 has advanced 10.6% over the past year.<\/p>\n

Didora still rates shares of both Royal Caribbean and Norwegian Cruise Line at neutral.<\/p>\n

While there is some concern over how the macroeconomic environment will affect consumer demand given the recent slowdown in discretionary spending, Didora believes Carnival, as well as the rest of the cruise industry, should remain relatively safe from the slowdown.<\/p>\n

\u201cIn our opinion, the cruise industry\u2019s long booking window and strong current demand could allow it to be less susceptible to a slowdown in the leisure consumer relative to other areas of travel,\u201d Didora wrote.<\/p>\n

Of the 23 analysts surveyed by FactSet who cover Carnival, 12 are now bullish, seven are neutral and three are bearish.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just about a postpandemic recovery. BofA Securities analyst Andrew Didora raised his rating on Carnival\u2019s stock to buy after being at neutral since June 2020, while JPMorgan\u2019s Matthew Boss raised his rating […]<\/p>\n","protected":false},"author":1,"featured_media":21602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-21601","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCarnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=21601\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=21601\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-12T17:48:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-12T17:48:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686592094_social-1024x513.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"513\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=21601#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=21601\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019\",\"datePublished\":\"2023-06-12T17:48:13+00:00\",\"dateModified\":\"2023-06-12T17:48:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=21601\"},\"wordCount\":539,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=21601#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=21601\",\"url\":\"https:\/\/ifintechworld.com\/?p=21601\",\"name\":\"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-12T17:48:13+00:00\",\"dateModified\":\"2023-06-12T17:48:17+00:00\",\"description\":\"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=21601#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=21601\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=21601#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld","description":"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=21601","og_locale":"en_US","og_type":"article","og_title":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld","og_description":"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just","og_url":"https:\/\/ifintechworld.com\/?p=21601","og_site_name":"iFintechWorld","article_published_time":"2023-06-12T17:48:13+00:00","article_modified_time":"2023-06-12T17:48:17+00:00","og_image":[{"width":1024,"height":513,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686592094_social-1024x513.png","type":"image\/png"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=21601#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=21601"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019","datePublished":"2023-06-12T17:48:13+00:00","dateModified":"2023-06-12T17:48:17+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=21601"},"wordCount":539,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=21601#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=21601","url":"https:\/\/ifintechworld.com\/?p=21601","name":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019 | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-12T17:48:13+00:00","dateModified":"2023-06-12T17:48:17+00:00","description":"Shares of Carnival Corp. cruised toward a 13-month high Monday after two Wall Street analysts turned bullish, saying growing demand is no longer just","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=21601#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=21601"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=21601#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Carnival\u2019s stock soars after two analysts turn bullish, as cruise demand shifts from \u2018pent-up\u2019 to \u2018sustainable\u2019"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/21601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21601"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/21601\/revisions"}],"predecessor-version":[{"id":21603,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/21601\/revisions\/21603"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/21602"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}