Argus Downgrades This Cruise Operator - Read Why

Argus Downgrades This Cruise Operator - Read Why
  • Argus analyst John Staszak downgraded Carnival Corp CCL to Hold from Buy without a price target.
  • Staszak said Carnival's growth prospects seem to deteriorate with the slow recovery from the Omicron surge amplified by a spike in fuel costs.
  • RelatedCarnival's Q1 Results Miss Expectations, Predicts Loss For Q2, FY22
  • The analyst predicts that Carnival's debt and interest expense will increase, reflecting higher capital spending.
  • Staszak notes that the cruise operator is fully valued at current levels.
  • Price Action: CCL shares are trading lower by 0.81% at $18.34 in premarket on the last check Friday.

Posted In: BriefsAnalyst ColorNewsDowngradesAnalyst RatingsGeneral