Carnival Corp Now Rated a “Conviction Buy” at Goldman Sachs (CCL)


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Cruise line operator Carnival Corporation ( CCL ) on Wednesday saw its shares added to Goldman Sachs' prestigious "Conviction Buy" List.

The firm also set a $55 price target on CCL, which suggests a 19% upside to the stock's Tuesday closing price of $46.29.

Goldman Sachs said that CCL still has room to expand, given current price/earnings multiples that sit below historic averages. The analyst also noted that supply/demand metrics are favorable for the cruise industry.

Carnival shares rose 58 cents, or +1.3%, in premarket trading Wednesday.

The Bottom Line
Shares of Carnival Corp ( CCL ) have a .86% dividend yield, based on last night's closing stock price of $46.29. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $50 price level.

Carnival Corporation ( CCL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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