Do Carnival Stock Investors Know What They're Boarding?
One of this year's hardest-hit travel markets is the cruising industry, and top dog Carnival (NYSE: CCL) (NYSE: CUK) is taking on water like all of its smaller peers. The stock has tumbled 68% in 2020, but one Wall Street pro is warning that things may not get better anytime soon.
Chris Woronka at Deutsche Bank is sticking to his hold rating and a price target of $13. With Carnival shares moving higher late last week after the company posted a well-received financial update and general market buoyancy lifting equities in recent weeks, holding firm at $13 isn't a good thing. Carnival stock enters the new trading week 24% higher than Woronka's goal. He has an interesting perspective on the situation that investors and speculators with long positions on the stock may want to consider.
Image source: Carnival Corp.
Source Fool.com
