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Benzinga
Benzinga
Business
Shivani Kumaresan

Argus Downgrades This Cruise Operator - Read Why

Argus Carnival Carnival Corp CCL NYSE Omicron
  • Argus analyst John Staszak downgraded Carnival Corp (NYSE: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.
  • Related: Carnival'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.
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