Carnival, Norwegian Cruise, United, American Airlines Stocks Surge On Vaccine Rollout, Hopes For Return To Normal
- Date: 04-Mar-2021
- Source: Forbes
- Sector:Transport
- Country:Middle East
Carnival, Norwegian Cruise, United, American Airlines Stocks Surge On Vaccine Rollout, Hopes For Return To Normal
Topline
After a devastating 2020, cruise line and airline stocks have soared this year, buoyed by expectations of rapid vaccine deployment in the U.S. and increased passenger demand, but some obstacles remain for these sectors.
The cruise ship "Carnival Vista" part of the Carnival Cruise Line, is seen moored at a quay in the ... [+] port of Miami, Florida, on December 23, 2020, amid the Coronavirus pandemic. (Photo by Daniel SLIM / AFP) (Photo by DANIEL SLIM/AFP via Getty Images)
AFP via Getty Images
Key Facts
Since Feb. 1, Carnival Corp, Norwegian Cruise Line and Royal Caribbean have surged 52.5%, 47.9% and 43.7%, respectively, through Wednesday, far outperforming the S&P 500 which has essentially remained flat over that period.
Investment Bank Macquarie Group recently upgraded its price target for the biggest cruise operators Carnival (from $16 to $31); Royal Caribbean (from $54 to $100); and Norwegian (from $18 to $40).
Airline stocks have also climbed higher recently: since Feb. 1, the NYSE Arca Airline Index, which includes major carriers like American, Delta and