Carnival Stock Price Prediction: The Next Destination for CCL Could Be $20 | Markets

Cruise stocks were hot in 2021, but many investors don’t even want to look at Carnival (NYSE:CCL) in 2024. Carnival stock has been directionless and just seems to have lost its way. However, I encourage patience and persistence as Carnival’s shareholders will have their magic moment in due time.

We have to be realistic, as the Carnival share price isn’t likely to revisit its pre-COVID-19 price levels soon. What about a near-term price target of $20, though? It’s possible if Carnival can capitalize on travel-pricing trends, so investors should get on board and prepare for a thrilling trip.

Carnival’s ‘Hugely Symbolic’ Change

First, here’s a news item that might not seem like a big deal, at first glance. However, it could represent a major change for Carnival Carnival in the long run.

In March of 2025, Carnival will “sunset” its P&O Cruises Australia brand and “fold” its Australia-based operations into the company’s flagship Carnival Cruise Line brand. This will allow Carnival to expand and focus on its Carnival Cruise Line brand.

Carnival CEO Josh Weinstein seems to view this as a way for the company to accelerate its build-out. “[G]uest demand remains incredibly strong so we’re leveraging our scale in an even more meaningful way…

Source investorplace.com

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