Why Carnival Stock Popped This Week
Shares of Carnival (NYSE: CCL) were heading higher this week, even though there was no company-specific news.
Instead, shares of the world's biggest cruise line operator surged on macroeconomic news after Tuesday's Consumer Price Index report that showed that inflation fell faster than expected in October. That was seen as a big positive for Carnival. Because it is carrying a lot of debt on its balance sheet and operates in a highly cyclical industry, it has significant interest rate exposure, and falling inflation makes it more likely that the Federal Reserve won't raise interest rates further. That would be good news for Carnival.
The stock rose 8.7% on Tuesday and added another 4.9% on Wednesday. As of Friday at 12:49 p.m. ET, the stock was up 15.2% for the week, according to data from S&P Global Market Intelligence.
Source Fool.com
Carnival plc Stock
The community is currently still undecided about Carnival plc with 2 Buy predictions and 0 Sell predictions.
With a target price of 14 € there is a slightly positive potential of 3.09% for Carnival plc compared to the current price of 13.58 €.
