Why I'm Changing My Mind About Carnival Stock
Perhaps no industry suffered more during the pandemic than the cruise industry. Due to lockdowns, cruise lines had to shut down for more than a year, leaving some investors to question the industry's ability to survive.
Indeed, Carnival (NYSE: CCL) had to take on massive debt to stay in business, as its debt ballooned from just over $12 billion in fiscal 2019 to nearly $36 billion by the end of fiscal 2022.
However, its dramatic recovery from the pandemic has forced me to change my negative outlook on Carnival stock. Here's why.
Source Fool.com
Carnival plc Stock
€12.59
-0.240%
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Carnival plc stock is not clear.
As a result the target price of 13 € shows a slightly positive potential of 3.3% compared to the current price of 12.59 € for Carnival plc.
