Cruise Line Stocks Catch an Upgrade

Carnival Corporation (NYSE:CCL) shares gain after HSBC ups the company’s rating to Overweight with a $38 price target. Strong U.S. demand for Carnival cruise vacations is the reason for the upgrade, say analysts with the firm. Competitor Royal Caribbean (NYSE:RCL) didn’t nab an upgrade, but shares jumped anyway.

Here’s how cruise line stocks are trading on the news:

Carnival Corporation (NYSE:CCL): CCL shares recently traded at $33.90, up $0.83, or 2.51%. They have traded in a 52-week range of $28.52 to $48.14. Volume today was 2,537,059 shares versus a 3-month average volume of 5,054,910 shares. The company’s trailing P/E is 13.85, while trailing earnings are $2.45 per share. Get the most recent company news and stock data here >>

Royal Caribbean Cruises Ltd. (NYSE:RCL): RCL shares recently traded at $25.93, up $0.44, or 1.73%. They have traded in a 52-week range of $18.70 to $49.99. Volume today was 649,142 shares versus a 3-month average volume of 3,097,500 shares. The company’s trailing P/E is 8.99, while trailing earnings are $2.88 per share. Get the most recent company news and stock data here >>