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
€14.62
-5.980%
The community is currently still undecided about Carnival plc with 1 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 14 € is below the current price of 14.62 € for Carnival plc, so the potential is actually -4.21%.
