Why Carnival, Norwegian Cruise Line And Royal Caribbean Group Shares Are Outperforming The Market

Carnival Corp CCL, Norwegian Cruise Line Holdings Ltd NCLH and Royal Caribbean Cruises Ltd RCL shares are trading higher by 10.39% to $7.33, 11.33% to $45.30 and 11.01% to $12.91 Wednesday afternoon. The cruise line sector at large is trading higher during Wednesday's trading session following a series of analyst rating updates.

• UBS analyst Robin Farley maintained Carnival with a Buy and lowered the price target from $11 to $8.
• Farley maintained Royal Caribbean with a Buy and lowered the price target from $65 to $56.
• Farley upgraded Norwegian Cruise Line from a Neutral to Buy and lowered the price target from $18 to $15.

Shares of travel and leisure companies have been volatile in recent sessions amid concerns over a recession and further Federal Reserve policy tightening. An economic slowdown could drive a slowdown in consumer spending on non-essential services such as travel.