Carnival (CCL)

by | Apr 4, 2024 | Daily Trade Alerts

Keep an eye on Carnival (CCL).

For one, according to Reuters, travelers have been booking cruises for 2024 at “greater volumes” than even before the pandemic. About 35.7 million consumers are expected to cruise this year alone, up from 31.5 million in 2023. 

Two, the CCL stock recently dipped after the company said the Baltimore bridge collapse would cut into its profits by about $10 million.  

Still, CCL is attractive. Earnings have been solid. Revenues of $5.4 billion were up 22% year over year. Operating profits of $276 million even marked the fourth consecutive quarter of being in the black. First quarter customer deposits were above $7 billion. 

Plus, analysts at Stifel are maintaining a buy rating on the CCL stock, with a target of $25.


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