© Stocksak Carnival’s (CCL) Post-Pandemic Recovery Will Drive Booking Trends – Tigress Financial
By Sam Boughedda
Tigress Financial reiterated its Buy rating on Carnival Corp. (NYSE 🙂 and initiated a price goal of $13 per Carnival Corp. share in a note Thursday.
Analysts there told investors in a note that the firm feels that a significant post-pandemic travel recovery and re-accelerating cruise industry growth will continue to drive improving booking and pricing trends.
Analysts stated that CCL should see a significant recovery in Business Performance trends as cruise market booking trends continue to accelerate. The industry experiences an ongoing recovery as it returns its fleet back to service, along with ongoing fleet optimization, improving operational efficiency, and as it continues to recover.
According to the analysts, strong booking and onboard spending trends will drive significant business performance recovery trends. Revenue, economic operating cash flow and net operating profit after taxes are all expected to surpass pre-pandemic records by 2023.
CCL is well-positioned for the post-pandemic recovery of travel, rising consumer spending trends on travel and the continued ramp-up in fleet deployment. It expects that eight of its nine brands will have their entire fleet of ships in service by 2022. CCL should still see pre-COVID revenue levels in late 2023, according to analysts.