To put it tactfully, cruise ship operator stocks haven't been very popular with investors over the past few years. Compounding that, on Monday, a new and downbeat analysis from a noted bank dinged stocks in the sector. As a result, two of its leaders, Carnival (NYSE: CCL) (NYSE: CUK) and Norwegian Cruise Line Holdings (NYSE: NCLH) , both lost steam. The former's common stock price declined by almost 0.2%, and the latter's by 1.3%.
Bank of America Securities analyst Andrew Didora isn't hopping aboard a bull cruise anytime soon. The prognosticator lowered his price targets for both Carnival and Norwegian Monday morning before market open. In his opinion, Carnival is now worth $18 per share; previously, Didora's level was $22. Norwegian got a slightly deeper cut, down to $20 per share from the preceding $25.
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For further details see:
Why Cruise Stocks Like Carnival and Norwegian Sank Today