🎈 Up Big Today: Find today's biggest gainers (some over 50%!) with our free screenerTry Stock Screener

Carnival's Post-Pandemic Recovery Will Drive Booking Trends - Tigress Financial

Published 10/27/2022, 01:12 PM
Updated 10/27/2022, 01:19 PM
© Reuters Carnival's (CCL) Post-Pandemic Recovery Will Drive Booking Trends - Tigress Financial
CCL
-

By Sam Boughedda

Tigress Financial reiterated a Buy rating and initiated a price target of $13 per share on Carnival Corp. (NYSE:CCL) in a note Thursday.

Analysts there told investors in a note that the firm feels that a significant post-pandemic travel recovery and re-accelerating cruise industry growth will continue to drive improving booking and pricing trends.

"CCL should experience significant recovery in Business Performance trends as cruise industry booking trends continue to accelerate, the industry experiences an ongoing recovery, and as it returns its fleet to service along with ongoing fleet optimization and improving operational efficiencies," wrote the analysts.

The analysts explained they believe strong booking and onboard spending trends will drive a significant recovery in business performance trends, with revenue, economic operating cash flow, and net operating profit after tax all likely to exceed pre-pandemic record levels by late 2023.

"CCL is well-positioned to benefit from the post-pandemic recovery in travel, increasing consumer spending trends on travel, and the ongoing ramp-up of fleet deployment with expectations that eight of its nine cruise brands will have their entire fleet in service by the end of 2022. Cruise demand remains strong, and CCL should see pre-COVID revenue levels by late 2023," added the analysts.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.