CUKPF - Carnival: Set To Cruise Back Up (Rating Upgrade)
2024-05-13 13:23:13 ET
Summary
- Carnival Corporation & plc stock has trended down to $14, providing an opportunity for investors to buy back in.
- The upcoming August quarter is expected to bring strong earnings finally for Carnival, with a quarterly profit topping $1 per share.
- Carnival's positive cash flows will help boost profits through debt repayment and cutting interest expenses.
- The stock trades at just 10x FY25 EPS targets, with upside potential from higher sales growth.
After hitting a double top around $20 at the end of 2023, Carnival Corporation & plc ( CCL ) has trended back down, providing the opportunity to get back into the cruise line stock. Carnival is now entering a period of strong earnings and cash flows to reposition the company. My investment thesis is now more Bullish, with the stock back down at $14....
Carnival: Set To Cruise Back Up (Rating Upgrade)