Carnival Stock (NYSE:CCL)
In a research note published on Thursday, Tigress Financial reaffirmed its Buy rating on Carnival stock (NYSE:CCL) and set a price objective of $13 per share.
Investors were informed in a note by the company’s analysts that the company believes a significant post-pandemic travel rebound and re-accelerating growth in the cruise sector will continue to drive positive booking and price trends.
The analysts noted that “CCL stock could have a considerable improvement in Business Performance trends as cruise industry booking patterns continue to accelerate, the industry experiences a continuing rebound, and as it restores its fleet to service coupled with continuous fleet optimization and improved operational efficiency.”
The analysts believed that solid booking and onboard spending patterns would support a considerable rebound in company performance trends, revenue, and economic operating cash flow. Net operating profit after tax is projected to approach pre-pandemic record levels by the end of 2023.
“Eight of CCL’s nine cruise brands are expected to have their complete fleet in service by the end of 2022, positioning the company to reap the benefits of the tourism industry’s post-pandemic rebound, rising consumer spending patterns, and the company’s continued ramp-up of fleet deployment. Demand for cruises is holding steady, and it is anticipated that CCL would return to its pre-COVID revenue levels by the end of 2023, “analysts said.
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