Carnival’s Aida Cruise Line Extends Sailings Halt; Street Sticks To Hold

Carnival Corp. announced that its German cruise line, Aida cruises, will extend halt sailings through the end of Feb. 2021, following prolonged lockdown restrictions in the country. Shares of the cruise line operator were down about 1.4% in Monday’s pre-market session.

Due to the continued uncertainty, Carnival (CCL) decided to cancel its seven-day cruise sailings with AIDAperla and AIDAmar around the Canary Islands until February.

Furthermore, the company said that “The transit cruise with AIDAsol from Palma (Mallorca) to Hamburg planned for Feb. 19, 2021 has to be canceled, as well as the voyages to Norway with AIDAcara and AIDAaura between Feb. 20 up to and including April 3, 2021 (AIDAcara) and March 27, 2021 (AIDAaura).” (See CCL stock analysis on TipRanks).

On Jan. 8, Deutsche Bank analyst Chris Woronka maintained a Hold rating and a price target of $13 (36.5% downside potential) on the stock. Woronka said, “With no meaningful fiscal 4Q (November quarter) cruise operations/revenues to report, focus remains on the company’s liquidity position and plans for a broader resumption of service across its brands in key geographies, particularly the U.S.”

The rest of the Street is mostly in line with Deutsche’s outlook. The Hold analyst consensus based on 6 Holds, 2 Sells, and 2 Buys. With shares down about 57.3% over the past year, the average price target of $18.56 indicates downside potential of about 9.3% over the next 12 months.

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