NCLH - Carnival's Fleet Optimization Poised To Unlock Explosive Earnings Growth Says Analyst | Benzinga
Mizuho analyst Ben Chaiken initiated coverage on the shares of Carnival Corp (NYSE:CCL) with a Buy rating and a price target of $21.
During the COVID shutdown, Carnival sold almost 20% of its fleet, much of which was significantly lower margin, said the analyst.
The analyst estimated the remaining fleet generated 5x the EBITDA/Available Lower Berth Day (ALBD) versus the sold assets, setting the stage for a powerful earnings story once CCL fully returns to operation.
After the transactions, in FY23, CCL announced a long-term earnings outlook suggesting ...