Carnival Cruise named ‘Catalyst Call Buy’ at Deutsche Bank
Deutsche Bank analyst Chris Woronka advised clients that Carnival Corp. (NYSE:CCL) is an attractive stock ahead of its earnings results next week.
He wrote that leisure travel looks resilient despite macroeconomic uncertainty, with the cruise sector looking strong in particular. As such, Woronka expects both earnings and, importantly, guidance to surprise to the upside.
“The company reports F1Q23 results pre-market on Monday March 27 and we believe the report is likely to elicit a positive reaction from the stock, based primarily on weakening sentiment heading into the print, as well as what we believe to be a low bar for CCL’s outlook for the remainder of FY23,” he wrote on Monday. “While some investors have become concerned about cruise pricing trends, particularly toward the end of the historical Wave season, we believe that shifts in booking patterns have made late Wave bookings much less relevant to the overall revenue picture for 2Q and 3Q.”
Shares of Carnival Corp. (CCL) sailed modestly higher after Monday’s market open.
Read more on the earnings expectations for the cruise operator.
Carnival Cruise named ‘Catalyst Call Buy’ at Deutsche Bank
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