Cruise Stocks Royal Caribbean, Carnival Catch Upgrades. Why It’s Time to Get Back on Board.

After two months of declines for cruise line stocks, it may be time for investors to get back on board.

Cruise stocks enjoyed a stellar first half of 2023 amid surging international travel demand as the sector’s post-Covid recovery finally started to ramp up. Carnival stock soared 134% in the first six months of the year, Royal Caribbean climbed 110%, and Norwegian Cruise Line Holdings gained 78%. Those recent losses are enough for the analysts to suggest getting back into the sector, particularly as they see “exceptionally strong” bookings and pricing trends for 2024 and 2025.

For Royal Caribbean, they increased their price target to $137 from $115, implying 43% upside to Monday’s closing price. Despite the new Hold rating, they still see Carnival as a relative underperformer but said the Sell rating was hard to defend as they think “rising tides will lift all boats.” They maintained a Hold rating on Norwegian Cruise Line stock.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stocks making the biggest moves premarket: Carnival, Deere, Super Micro Computer and moreThese are the stocks posting the largest moves in early trading.
Source: NBCDFW - 🏆 288. / 63 Read more »