In this article, we will be looking at the 5 best cruise stocks to buy right now. To read our analysis of the cruise industry and its growth prospects, go directly to 10 Best Cruise Stocks To Buy Right Now.
5. Carnival Corporation & plc (NYSE:CCL)
Number of Hedge Fund Holders: 32
Carnival Corporation & plc (NYSE:CCL) is a British-American cruise operator with 10 brands under its portfolio and a fleet of over 100 ships. The Miami, Florida-based company has the distinction of being the biggest cruise line in the world in terms of fleet and passenger volume.
In a note released to investors on June 28, James Hardiman at Citi maintained a ‘Neutral’ rating on Carnival Corporation & plc (NYSE:CCL) stock with a target price of $12.50. The target price reflects healthy potential upside of over 41%. Carnival Corporation & plc (NYSE:CCL) shares gained as investors priced in the positive comments made by the management during the company’s Q2 FY22 results that were posted on June 24. The analyst sees strong forward indicators for the company in 2023. Hardiman also highlighted that Carnival Corporation & plc (NYSE:CCL) stock is trading at a near-pandemic low and provides an opportunity for investors to be constructive on the stock. However, the analyst expects the macroeconomic developments to drive the short-term trading cycle.
Carnival Corporation & plc (NYSE:CCL) was discussed in the Q1 2021 investor letter of ClearBridge Investments. Here’s what the firm said:
“Several of our better performers in the first quarter were purchased while their business models were under stress from COVID restrictions or the macro environment the pandemic created. What gave us confidence in purchasing Carnival was the actions the company took to extend out their balance sheets until travel resumed. Both should benefit as a broader vaccination rollout prompts cruise lines to resume operations and consumers to start traveling again and are positioned to deliver better margins and gain pricing power as the economy normalizes due to the cost controls implemented during the downturn.”
As of Q1 2022, 32 hedge funds held a stake in Carnival Corporation & plc (NYSE:CCL).