Carnival gets upgrade at Jefferies, which says cruise operator is on journey to being long-term investment

Carnival CCL was upgraded to buy from hold at Jefferies, which lifted its price target to $25 from $9. The CEO change to Josh Weinstein should make a material positive difference in the execution of the business, a capital pivot to equity expansion is “relatively clearly plotted,” the operating model is being improved and a valuation shift to at least 10x earnings “leaves considerable upside on 2024 estimates,” the firm said.

... Carnival CCL was upgraded to buy from hold at Jefferies, which lifted its price target to $25 from $9. The CEO change to Josh Weinstein should make a material positive difference in the execution of the business, a capital pivot to equity expansion is “relatively clearly plotted,” the operating model is being improved and a valuation shift to at least 10x earnings “leaves considerable upside on 2024 estimates,” the firm said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The best stocks now that the 'age of AI is upon us,' according to JefferiesThese stocks are set to stand out as the age of artificial intelligence emerges and starts penetrating a variety of business sectors, Jefferies says.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves midday: Pinterest, Carnival, General Mills, Netflix and moreThese are some of the stocks posting the largest midday moves.
Source: CNBC - 🏆 12. / 72 Read more »