Jefferies Upgrades Carnival Corporation (CCL) to Buy, 'We Cannot Direct the Wind, But Adjust the Sails'
Jefferies analyst David Katz upgraded Carnival Corporation (NYSE: CCL) from Hold to Buy with a price target of $25.00 (from $9.00).
The analyst comments "The leadership change and the supply and demand recovery, and the resulting capital pivot, drive a significant shift from debt to equity value within the EV and should position the shares as more broadly investable, which could progress over several years. Despite the strong YTD performance, we believe the journey from a good trade to long-term investment case remains ahead. Upgrading to Buy from Hold."
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Shares of Carnival Corporation closed at $17.16 yesterday.