Carnival: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded Carnival shares from "hold" to "buy", having almost tripled its target price for them from $9 to $25, highlighting the positive effects of the latest change at the head of the Anglo-American cruise company.


"11 months into his tenure, the new CEO has implemented structural changes to CCL, including a flatter, more efficient reporting structure, which leaves direct reporting relationships for 93% of the company's total brand capacity to him," the broker said.

"Leadership has also increased sales and marketing efforts, and implemented more sophisticated advertising and customer engagement strategies we believe are consistent with other consumer industries and are driving solid demand," it adds.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.