Should You Buy Carnival Stock Right Now?
Shares of Carnival (NYSE: CCL) (NYSE: CUK) have more than doubled since bottoming out in 2022, but the stock has been volatile this year. It currently sits at around $23, down from its 52-week high of $28.72.While strong demand for cruises has fueled higher revenue for Carnival, Wall Street is focused on risks that could derail its momentum. Specifically, declining consumer confidence in recent months could lead to weaker demand for cruise vacations. There's also the risk of new taxes on cruise lines that could hurt Carnival's profitability.Despite these headwinds, analysts remain positive about Carnival's prospects. The consensus price target of $27.73 implies 20% upside in the near term from current share prices.Continue reading
Shares of Carnival (NYSE: CCL) (NYSE: CUK) have more than doubled since bottoming out in 2022, but the stock has been volatile this year. It currently sits at around $23, down from its 52-week high of $28.72.
While strong demand for cruises has fueled higher revenue for Carnival, Wall Street is focused on risks that could derail its momentum. Specifically, declining consumer confidence in recent months could lead to weaker demand for cruise vacations. There's also the risk of new taxes on cruise lines that could hurt Carnival's profitability.
Despite these headwinds, analysts remain positive about Carnival's prospects. The consensus price target of $27.73 implies 20% upside in the near term from current share prices.
