Analyst Ratings Coverage
Carnival Corporation, one of the world’s largest cruise operators, just received positive news on Monday June 12th, as two major financial institutions released research reports and altered their coverage on the stock by upgrading their ratings on the company’s stock. Bank of America Merrill Lynch and J.P. Morgan Chase & Co both revised their outlooks for Carnival Corp, indicating increased confidence in the company’s future prospects.
Bank of America Merrill Lynch (Rank#19) upgraded its rating on Carnival Corp from “Buy” to “Strong Buy” and raised its price target from USD 11 to USD 20. This upgrade suggests that the bank believes Carnival Corp’s stock has significant upside potential and recommends investors consider purchasing shares at the current price level.
J.P. Morgan Chase & Co (Rank#4) also upgraded its rating on Carnival Corp from “Neutral” to “Overweight” and adjusted its price target from USD 11 to USD 16. This upgrade reflects J.P. Morgan’s belief that Carnival Corp’s stock is expected to outperform the broader market and that it represents an attractive investment opportunity.
These upgrades come at a time when the cruise industry is slowly recovering from the significant challenges the industry has faced over the last while, and now growing optimism about the resumption of cruise operations and a resurgence in demand for leisure travel is returning.
Carnival Corp has been actively working to rebuild consumer confidence and strengthen its financial position. The company has implemented rigorous health and safety protocols, enhanced customer offerings, and streamlined operations to navigate the current environment successfully.
The upgrades by Bank of America Merrill Lynch and J.P. Morgan Chase & Co indicate that these institutions see Carnival Corp’s efforts as promising and anticipate a positive trajectory for the company. The revised price targets also suggest that there is room for substantial stock price appreciation in the coming months.
CCL Stock Analysis
According to a Carnival Corporation stock forecast based on the analysis of 16 analysts, the average target price for the company’s stock over the next 12 months is USD 12.88. The average analyst rating for Carnival Corporation is “Buy.” Stock Target Advisor’s own analysis of Carnival Corporation’s stock is “Bearish,” with 2 positive signals and 6 negative signals.
As of the last closing, Carnival Corporation’s stock price was USD 13.09. Over the past week, the stock price has increased by +7.47%, over the past month by +27.83%, and over the last year by +18.46%.
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