Cruise Stocks Cooled Off Since July But 2024, 2025 Look 'Exceptionally' Strong: Analyst
Portfolio Pulse from Priya Nigam
Cruise line operators have been under pressure due to rising operating expenses from soaring oil prices. However, Truist Securities analyst Patrick Scholes predicts a strong outlook for the industry in 2024 and 2025. Scholes upgraded the rating for Royal Caribbean Cruises Ltd (RCL) from Hold to Buy and raised the price target from $115 to $137. He also upgraded Carnival Corp (CCL) from Sell to Hold and lifted the price target from $16 to $17.
September 19, 2023 | 3:53 pm
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POSITIVE IMPACT
Carnival Corp (CCL) has been upgraded from Sell to Hold by Truist Securities analyst Patrick Scholes, with a raised price target from $16 to $17.
The upgrade from Sell to Hold and the raised price target suggest a more positive outlook for CCL's stock. This could stabilize the stock price and potentially attract investors, leading to a slight increase in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Royal Caribbean Cruises Ltd (RCL) has been upgraded from Hold to Buy by Truist Securities analyst Patrick Scholes, with a raised price target from $115 to $137.
The upgrade from Hold to Buy and the raised price target indicate a positive outlook for RCL's stock. This is likely to attract investors, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100