BofA Raises Carnival Target Despite Recent Extension Of US Cruise Suspension
CCL), according to BofA Securities.
He said the reason for raising the price target as “rolling forward our multiple valuation methodology to FY22E (from FY21E) to reflect more normalized market conditions.”
The company announced the resumption of Costa’s operations in September and said Aida may be operational in next November, “both in a gradual manner with adjusted passenger capacity,” the analyst mentioned.
“Carnival has capacity to fund its requirement until mid-2021 in an environment with a pause in operations. While recent offerings have strengthened group’s liquidity profile, this came at a high cost, impacting group’s bottom line profile,” he wrote.
Latest Ratings for CCL
|Aug 2020||Morgan Stanley||Maintains||Underweight|
|Jul 2020||Credit Suisse||Maintains||Neutral|
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