Keep an eye on Carnival (CCL).
It’s been cruising higher since bottoming out around $14.50. Now up to $17.08, we’d like to see it closer to $19 if it can break above current resistance.
Not only are cruise companies seeing healthy bookings, Goldman Sachs just issued a buy rating on the CCL stock. As noted by Business Insider, “This optimistic outlook is underpinned by the potential for significant balance sheet improvements across these companies, promising a more attractive valuation and broader investor interest moving forward.”
“RCL is currently the leader, but CCL is about to catch up,” Goldman Sachs added.
Stifel analysts like CCL here, raising their price target to $26, with a buy rating. The stock’s “recent unjustified underperformance relative to peers has presented an attractive buying opportunity,” they said, as quoted by Barron’s.
