Category: Stock Market

Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week Highs May 21) * ADC Therapeutics SA (NYSE: ADCT) (IPOed May 15) * Allogene Therapeutics Inc (NASDAQ: ALLO) * AstraZeneca plc (NYSE: AZN) ( announced $1 billion BARDA funding for coronavirus vaccine program) * Biondvax Pharmaceuticals Ltd – ADR (NASDAQ: BVXV) * Cellectis SA (NASDAQ: CLLS) * ChemoCentryx Inc (NASDAQ: CCXI) * Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) * Cue Biopharma Inc (NASDAQ: CUE) * Fate Therapeutics Inc (NASDAQ: FATE) * Harpoon Therapeutics Inc (NASDAQ: HARP) * Horizon Therapeutics PLC (NASDAQ: HZNP) * Intellia Therapeutics Inc (NASDAQ: NTLA) * Kamada Ltd. (NASDAQ: KMDA) * Minerva Neurosciences Inc (NASDAQ: NERV) * Ovid Therapeutics Inc (NASDAQ: OVID) * Passage Bio Inc (NASDAQ: PASG)(FDA granted Rare Pediatric Disease designation to its gene therapy PBGM01 broadly for the treatment of GM1 gangliosidosis) * Soleno Therapeutics Inc (NASDAQ: SLNO) * Surface Oncology Inc (NASDAQ: SURF)Down In The Dumps (Biotech Stocks Hitting 52-week Lows May 21) * Akorn, Inc. (NASDAQ: AKRX) (filed for Chapter 11 bankruptcy) * Digirad Corporation (NASDAQ: DRAD) * Genfit SA (NASDAQ: GNFT)Related Link: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan StanleyStocks In Focus Aquestive's Partnered Parkinson's Drug Gets FDA Nod Aquestive Therapeutics Inc's (NASDAQ: AQST) development partner Sunovion announced FDA approval for Kynmobi sublingual film – APL-130277 – for the acute, intermittent treatment of OFF episodes in patients with Parkinson's disease. The drug is expected to be available in the U.S. pharmacies in September.Following the approval, Aquestive said it plans to monetize its PharmFilm based therapies."We continue to expect that we will receive between $50 to $100 million of non-dilutive capital from the monetization, in one or a series of transactions," the company said.The stock rose 5.2% to $6.47 in after-hours trading.Syndax's Lead Breast Cancer Drug Flunks Late-stage Study Syndax Pharmaceuticals Inc (NASDAQ: SNDX) said a late-stage study that evaluated its investigational compound entinostat along with exemestane in patients with HR+, HER2- breast cancer who have progressed on a non-steroidal aromatase inhibitor did not achieve the primary endpoint of demonstrating a statistically significant overall survival benefit over hormone therapy alone.The study was conducted by ECOG-ACRIN Cancer Research Group and sponsored by the National Cancer Institute.The stock slumped 19.41% to $16.52 in after-hours trading.Tiziana To Spin-off Its Personalized Medicines Businesses TIZIANA LF SCIE/S ADR (NASDAQ: TLSA) said it intends to demerge its StemPrintER and SPARE genomics-based personalized medicine businesses into a separate company and effect a capital reduction to facilitate the spin-out and listing of StemPrintER as an independent entity.Amarin To Support Pilot Study Of Vascepa In Treating COVID-19 Amarin Corporation plc (NASDAQ: AMRN) said it supports a clinical trial to investigate the effects of its Vascepa on inflammatory biomarkers and other patient outcomes in individuals with COVID-19. The trial is sponsored by the Canadian Medical and Surgical Knowledge Translation Research Group, the company said.Separately, generic pharma company Hikma Pharmaceuticals announced its wholly-owned U.S. subsidiary Hikma Pharmaceuticals USA Inc. has received FDA approval for its generic equivalent to Vascepa.In pre-market trading Friday, Amarin stock was adding 3.85% to $7.56.Navidea Reports Positive Mid-stage Results For Rheumatoid Arthritis Treatment Navidea Biopharmaceuticals Inc (NYSE: NAVB) announced positive preliminary results from the second interim analysis of its ongoing NAV3-31 Phase 2B study"Analysis demonstrates that these interim data further corroborate Navidea's hypotheses that Tc99m tilmanocept imaging can provide robust, quantitative imaging in healthy controls and in patients with active rheumatoid arthritis, and that this imaging can provide an early indicator of treatment efficacy in patients with active RA," the company said.The stock was seen skyrocketing 65.35% to $2.10 in pre-market trading.Roche Buys Gene Sequencing Tech Company Roche Holdings AG (OTC: RHHBY) announced acquisition of Stratos Genomics, an early-stage sequencing technology company to advance the development of its nanopore sequencer.The company did not disclose the financial terms of the dealTetraphase Deems Melinta's Latest All-Cash Offer As Superior, Notifies AcelRx Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH), which has been pursued by multiple companies, said its board has determined that the latest proposal from Melinta Therapeutics, Inc. is a "Superior Offer."'Melinta has offered $27 million in cash, plus an additional $12.5 million in cash potentially payable under contingent value rights to be issued in the proposed acquisition.View more earnings on IBBTetraphase, which agreed to a deal to be bought byAcelRx Pharmaceuticals Inc (NASDAQ: ACRX), said it has informed about its determination concerning the Melinta offer and given AcelRx time until May 29 to either terminate the merger or revise the terms of the merger.Incidentally, La Jolla Pharmaceutical Company (NASDAQ: LJPC) had also tabled an offer for Tetraphase.In pre-market trading, AcelRx shares were adding 2.74% to $1.50.Amag Divests Intrarosa For Upto $125M AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) said it has completed the sale of its rights to Intrarosa to Millicent Pharma Limited, for up to $125 million, including upfront fixed consideration of $20 million and contingent, sales-based milestone payments of up to $105 million.The company said the sale is consistent with its previously announced strategic decision to divest its women's health assets. It also said it remains committed to the divestiture of Vyleesi and associated expense reductions as previously announced.Offerings ContraFect Corp Stock (NASDAQ: CFRX) said it has priced its underwritten public offering of 11.8 million shares of its common stock and related warrants to purchase 8.85 million shares. The gross proceeds from the public offering will be approximately $52.5 million, it said. All shares in the public offering are to be sold by ContraFect.In premarket trading Friday, the stock was slipping 11.87% to $4.75.Hoth Therapeutics Inc (NASDAQ: HOTH) priced its underwritten public offering of 1.82 million shares of common stock at $2.75 per share, for raising gross proceeds of $5 million. The offering is expected to close on or about May 27.The stock was slipping 5.36% to $3 in premarket trading Friday.Dynavax Technologies Corporation (NASDAQ: DVAX) priced its previously announced underwritten public offering of 14 million shares of its common stock at $5 per share. The gross proceeds to Dynavax from the offering are expected to be approximately $70. The offering is expected to close on or about May 27.The stock was retreating 10.25% to $5.08 in premarket trading Friday.PPD Inc (NASDAQ: PPD) said it upsized and finalized the terms of the offering of $500 million aggregate principal amount of 4.625% senior notes due 2025 and $700 million aggregate principal amount 5.000% senior notes due 2028. The aggregate principal amount of the notes to be issued in the offering was increased to $1.2 billion from the previously announced $700 million, the company said.In premarket trading Friday, the stock was adding 1.23% to $28.Geron Corporation (NASDAQ: GERN) said it intends to offer and sell shares of its common stock and accompanying warrants to purchase shares of its common stock in an underwritten public offering. All the securities earmarked for the offering are being sold by the company.The stock was slipping 20.92% to $1.55 in pre-market trading.On The Radar Clinical Readouts Atara Biotherapeutics Inc's (NASDAQ: ATRA) abstract on the Phase 1 data for ATA188 in multiple sclerosis, regarding its European Academy for Neurology presentation, will be made available online at 12:30 pm ET.Earnings Teligent Inc (NEW JERSEY) (NASDAQ: TLGT)IPO Inari Medical, a medical device company, priced its upsized initial public offering of 8.203 million shares of its common stock at $19.00 per share, for total gross proceeds of approximately $156 million. The company had earlier planned for a 7.33-million stock offering, with an estimated price of $17-$18 per share. The shares are to be listed on the Nasdaq under the ticker symbol NARI.See more from Benzinga * The Daily Biotech Pulse: Mixed Filgotinib Readout For Gilead-Galapagos, Akorn To File For Chapter 11, D-Day For Aquestive * The Daily Biotech Pulse: Aldeyra Jumps Into COVID-19 Drug Fray, FDA Nod For Myriad's Companion Diagnostic Test * The Daily Biotech Pulse: FDA Nod For Roche, Arbutus Releases Positive Readout For HBV Therapy, Moderna Announces .34B Common Stock Offering(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Qualcomm (QCOM) is positioned close to the eye of the macro storm. A heavy reliance on China and uncertainty concerning near-term smartphone supply and demand dynamics have contributed to a difficult 2020 for QCOM, with shares down 12% year-to-date. However, despite renewed tensions between the U.S. and China, Qualcomm could actually benefit from the worrying developments, so says Canaccord Genuity analyst Michael Walkley. The recent Department of Commerce ban on Huawei, preventing it from purchasing semiconductors from U.S. companies, has ignited fears of retaliatory moves against companies such as Apple and Qualcomm. That being said, Qualcomm’s management noted Huawei is not a significant customer. In fact, Walkley argues the move could be good for the chipmaker. “We view any Huawei smartphone share losses, which are likely with it not gaining access to Android software, as a benefit to Qualcomm as its leading QCT customers such as OPPO and Vivo are likely to gain market share from Huawei,” said the 5-star analyst. While there’s a risk of a Chinese retaliation, Walkley notes that a large number of Chinese OEMs are dependent on Qualcomm in order to compete with tech giant Huawei. And with ambitions to sell more global smartphones, Qualcomm is the “primary to only choice in certain markets for these OEMs to have working products.” Furthermore, Walkley believes Chinese semiconductor company HiSilicon (owned by Huawei) cannot currently sell its modems to Qualcomm’s Chinese OEM customer base. If trade tensions negatively impact Huawei’s HiSilicon business, Qualcomm could benefit as Huawei loses both market share and the “ability to eventually compete in the merchant market,” if HiSilicon is stopped from making innovative chipsets at TSMC. Walkley summarized, “While the escalating China and U.S. relations is a concern to monitor and likely adds to the delays for Qualcomm in reaching an agreement with Huawei, we believe Qualcomm could come out as a net beneficiary if Huawei is adversely impacted since Huawei doesn’t use material volumes of Qualcomm chipsets and does not pay royalties currently.” Bearing this in mind, the 5-star analyst rates QCOM a Buy and has a $102 price target on the shares. There’s upside of 31% should the target be met in the coming months. (To watch Walkley’s track record, click here) The analyst community remains cautiously optimistic when considering Qualcomm’s prospects. A Moderate Buy consensus rating is based on a mix of 8 Buys, 7 Holds and 2 Sells. The average price target hits $86.86 and implies possible gains in the shape of 11%. (See Qualcomm stock analysis on TipRanks)

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Chinese e-commerce and digital tech giant Alibaba delivered better than expected results for the financial year to March 2020. Revenue grew by 35% to $72 billion (RMB509 billion). Net profits grew 42% to $19.8 billion, or $18.7 billion when expressed in non-GAAP form. Alibaba's digital media and entertainment segment accounted for losses of $1.57 billion […]

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Chinese e-commerce giant Alibaba (BABA) has reported strong earnings results, with Q4 Non-GAAP EPS of $1.30 easily beating consensus estimates by $0.44 and demonstrating 7% year-over-year growth. GAAP EPS of $0.16 beat Street expectations by $0.04.Revenue of $16.14B marked 22% year-over-year growth, topping estimates by $860M, due to the solid performance of BABA’s domestic retail businesses and robust cloud computing revenue growth.“Alibaba achieved the historic milestone of US$1 trillion in GMV [gross merchandise value] across our digital economy this fiscal year,” cheered Daniel Zhang, CEO of Alibaba. “Our overall business continued to experience strong growth, with a total annual active consumer base of 960 million globally, despite concluding the fiscal year with a quarter impacted by the economic effects of the COVID-19 pandemic.”Meanwhile Maggie Wu, CFO of Alibaba gave a promising outlook for the months ahead, stating: “Although the pandemic negatively impacted most of our domestic core commerce businesses starting in late January, we have seen a steady recovery since March. Based on our current view of Chinese domestic consumption and enterprise digitization, we expect to generate over RMB650 billion in revenue in fiscal year 2021.”Indeed, annual active consumers on the company’s China retail marketplaces reached 726 million for the quarter ending March 31, an increase of 15 million from December 31, 2019.Net cash provided by operating activities was RMB2,164 million ($306 million), down from RMB18,553 million in the same quarter of 2019, due to the one-off AliExpress Payment Services Restructuring. Excluding this expense, non-GAAP free cash flow would have been an inflow of RMB1,977 million ($279 million), says BABA.All ten analysts covering Alibaba currently rate the stock a buy- giving it a firm Strong Buy consensus. The $252 average analyst price target indicates upside potential of 19%, with shares currently flat year-to-date. (See Alibaba stock analysis on TipRanks).“We view the full impact & duration of the Covid-19 outbreak as an unknowable. But we remain very positive on BABA’s long- term fundamental outlook and view valuation as reasonable” comments RBC Capital analyst Mark Mahaney. The analyst has a buy rating on Alibaba, and sees shares reaching $230.“We are struck by recent government data that details that China Online Retail sales reached ¥8.5T RMB ($1.2T) in 2019 (up 19.5% Y/Y) and amounted to approx. 27% of China’s total retail sales. This scale, growth, and especially penetration all remain impressively robust, and we believe BABA remains the best play on this” he adds.Related News: Alibaba to Invest $1.4 Billion into Tmall Genie AI Capabilities Baidu May Use Nasdaq Delisting To Boost Value – Report Apple To Reopen More Than 25 U.S. Stores  More recent articles from Smarter Analyst: * Amarin Down 10% in Pre-Market On Generic Approval * Foot Locker Earnings Miss On All Counts; Stock Down 6% In Pre-Market * Netflix Will Now Automatically Cancel Inactive Accounts * Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness

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Shares in Boston Scientific (BSX) pulled back 2% in after-hours trading on Wednesday after the company announced concurrent offerings of $750 million of shares of its common stock and $750 million of shares of its Series A Mandatory Convertible Preferred Stock.The medical device manufacturer also expects to grant the underwriters separate 30-day options to purchase up to an additional $112.5 million of common stock and up to an additional $112.5 million of preferred stock.According to the statement, Boston Scientific will use part of the proceeds from to repay in full the remaining $750 million outstanding under its $1.25 billion term loan credit facility maturing on April 2021 and to pay the related fees, expenses and premiums.The remaining proceeds will be used for general corporate purposes, says BSX, which may include refinancing or repayment of other outstanding indebtedness and funding potential future acquisitions and investments.The closing of each offering is not contingent upon the closing of the other offering.J.P. Morgan and BofA Securities are acting as joint book-running managers for the offerings.On May 15, Boston announced the pricing of a public offering of $1.7 billion senior notes with $500 million in aggregate 1.9% notes due 2025 and $1.2 billion in aggregate 2.65% notes due 2030.BSX has plunged 18% year-to-date, but analysts are retaining an optimistic outlook on the stock’s potential. The Street has a Strong Buy consensus on Boston Scientific, with an average analyst price target of $43 (16% upside potential). (See BSX stock analysis on TipRanks)“Despite short-term delays and disruption to current launches and the product pipeline, we continue to like BSX’s innovation and growth profile” explains BTIG’s Marie Thibault. She reiterated her Buy with a $44 PT, but ‘meaningfully’ reduced her revenue forecast for 2020 as global revenue is expected to decline 45-50% y/y in April.Related News: Bluebird Prices New Shares At $55, Seeks To Raise $500 Million Gilead and Galapagos Score Positive Topline Results For Ulcerative Colitis Trial AstraZeneca-Merck Lynparza Prostate Cancer Treatment Gets FDA ApprovalPopular in the Community More recent articles from Smarter Analyst: * Amarin Down 10% in Pre-Market On Generic Approval * Alibaba Scores Earnings Beat With Revenue Surging 22% Y/Y * Foot Locker Earnings Miss On All Counts; Stock Down 6% In Pre-Market * Netflix Will Now Automatically Cancel Inactive Accounts

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As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core commerce business rising nearly 19% to 93.87 billion yuan ($13.16 billion) in the quarter. With China’s economy starting up again much ahead of major economies in Europe and the United States, the e-commerce giant said it expects to generate over 650 billion yuan in revenue in fiscal 2021. The company has been pushing into new businesses and technologies as online shopping space heats up with competition from smaller rival JD.com Inc and Pinduoduo Inc, which is popular with residents in China’s lower-tier cities.

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Telehealth companies enabling individuals to see physicians without stepping foot into a physical doctor’s office are having their moment, as the coronavirus pandemic confines individuals and would-be patients across the country largely to their homes.

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It has been anything but smooth sailing for the cruise industry. The COVID-19 pandemic and the widespread travel restrictions have caused sailings to be suspended, sending shares to record lows. To survive, cruise operators have gone into cash preservation mode, entering into liquidity enhancing credit agreements. Against this backdrop, investors are hardly lining up to pull the trigger on names within this area of the market. However, five-star analyst Benjamin Chaiken, of Credit Suisse, has a more optimistic view of the industry. He acknowledges that “COVID -19 may be the toughest challenge the industry has ever faced”, with it potentially taking several years to regain pricing parity. That being said, he argues the “unmatched value proposition of the product” will power a rebound, and that the recent weakness presents an attractive entry point with liquidity struggles already built in. Highlighting the resiliency of the industry, Chaiken said, "The cruise industry has bounced back before from deadly accidents, sudden regulatory changes and storms.” He added, “Additionally, we think the cruise demographic is favorable for a recovery in demand, and could be why 55% of cruise customers, according to our checks, are opting for a cruise credit vs. cash, post COVID -19 disruption. We think this is a very powerful data point highlighting the resiliency in the product, and speaks volumes in terms of future demand for the industry, especially in the context of current sentiment which questions if the product will even exist in the future.” Taking all of this into consideration, Chaiken points to two cruise line stocks with especially strong long-term growth narratives, initiating coverage of each with bullish ratings. The analyst does remind clients that not all cruise industry players are set to outperform, recommending that investors avoid one in particular. Using TipRanks’ database, we wanted to see if other Wall Street analysts agree with Chaiken’s calls. Here’s what we found out. Royal Caribbean (RCL) With 63 ships carrying approximately 6 million passengers every year, Royal Caribbean counts itself as one of the top cruise ship operators. While COVID-19 has certainly taken a toll on the company, Chaiken believes that when demand recovers, RCL will be a major beneficiary. The Credit Suisse analyst argues that part of the company’s strength is derived from the location in which it operates cruises. “We think the Caribbean –where RCL is best positioned in terms of capacity allocation and product–could be a bright spot when demand does return. Many Caribbean itineraries require little or no air travel to embarkation, which we think is likely a positive for those with remaining fear over air travel,” he explained. It also doesn’t hurt that “RCL has the ability to market to guests with a shorter booking window.” Additionally, Chaiken implores investors to take RCL’s performance before the onset of the public health crisis into account. "We think RCL was gaining significant momentum heading into the Coronavirus-led slowdown, with its CocoCay destination (a private island in the Bahamas offering differentiated land-based activities), demanding price premiums and an had been planning an 80% increase in volume in 2020 vs. 2019, prior to the outbreak,” the analyst stated. He added, “RCL finished 2019 at 108% occupancy and reported net yields of 8%.” If that wasn’t enough, Chaiken expects several potential tailwinds to emerge post-COVID-19. Its acquisition of Silversea added two ships to the fleet and expanded its agent network, providing a tailwind to yields. Cost tailwinds could also be in RCL’s future. Even though liquidity and cash burn are considered by some to be a cause for concern, Chaiken is optimistic. “RCL recently raised $3.3 billion in secured notes, giving us further confidence that they should be able to manage the slowdown,” he noted. To this end, Chaiken kicked off his RCL coverage by publishing an Outperform rating. Accompanying the bullish call is a $67 price target, which suggests 55% upside potential. (To watch Chaiken’s track record, click here) Looking at the consensus breakdown, the bulls have it. RCL’s Moderate Buy consensus rating breaks down into 8 Buys, 5 Holds and 1 Sell. At $60.36, the average price target implies 39% upside potential. (See Royal Caribbean stock analysis on TipRanks) Norwegian Cruise Line (NCLH) Comprised of three brands that include Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises, this name operates 28 ships in the Caribbean, Europe, Alaska, Asia, Bermuda and Hawaii. Despite the fact that COVID-19 fears have pushed shares down by 76% year-to-date, Credit Suisse recommends that investors go in on NCLH based on its solid event path and positioning in an expanding segment. Chaiken points out that NCLH has recently enhanced liquidity in not one, not two, but six different ways. These include receiving a “debt holiday” from its export credit partners, delaying amortization payments which added $905 million of liquidity, an investment from private equity firm L Catterton, as well as share, convertible debt and notes offerings. On top of this, the company already ended 2019 with $1.8 billion of liquidity. With respect to cash burn, Chaiken estimates “NCLH has a cash burn profile in the $140-150 million per month range”, which gives it two years of runway in an environment with no revenue. It should also be noted that NCLH doesn’t have ship deliveries until 2022, alleviating some of the pressure on the company. "With $4 billion of liquidity, no new ship deliveries until 2022, and our assumption of a return to cruising in August, we do not see bankruptcy on the table,” the analyst commented. Sure, COVID-19 will most likely weigh on pricing and capacity in 2020, but Chaiken thinks that like RCL, the strong trends witnessed before the outbreak should be considered. “NCLH finished the year at 107% occupancy and reported net yields of 3.6% in 2019. Adjusting for headwinds related to Norwegian Pearl, Hurricane Dorian and Cuba, we think NCLH generated core growth of 5.6% in 2019… we think NCLH was likely ~20 -25% booked for 1H21, as of March 1, providing a layer of pricing stability, even as newly booked sailings potentially see significant pricing deceleration as some cancellations inevitably occur,” he explained. Adding to the good news, NCLH also stands to benefit from the reversal of the shortened Cuba booking window and improving mix for the former Cuba ships as well as lapping Hurricane Dorian and a technical issue related to Pearl, with these adding a “small layer of stability in a volatile time.” “We think NCLH offers a differentiated vacation, within an oligopoly, at a significant discount to other land-based alternatives and as such we believe we will see demand for the product come back,” Chaiken concluded. It should come as no surprise, then, that Chaiken joined the bulls. To start off his coverage, he put an Outperform rating and $21 price target on the stock. Should this target be met, a twelve-month gain of 50% could be in store. Turning now to the rest of the Street, 7 Buys and 8 Holds have been assigned in the last three months, making the consensus rating a Moderate Buy. In addition, the $16.50 average price target implies shares could surge 18% in the next year. (See Norwegian Cruise Line stock analysis on TipRanks) Carnival Corporation (CCL) When it comes to Carnival, the largest publicly traded cruise line, the company has found itself in choppy waters, with Chaiken not expecting smooth sailing anytime soon. Down 71% since the start of 2020, some might see this decline as representing a buying opportunity. However, in the long-term, Chaiken believes the company will come up short when compared to its peers. The analyst makes it clear that he doesn’t see bankruptcy as being very likely based on the fact that CCL raised $9 billion of liquidity over the last few months. Having said that, this financing could create a problem for CCL as it will almost triple its interest expense. Looking at the near-term, Chaiken points to its high levels of cash burn as setting the company up for trouble. “From a cash burn perspective, we estimate CCL has a cash burn profile in the ~$1 billion per month range, leaving them with just over nine months of runway in a zero-revenue environment. This compares to RCL of $450-470 million per month and NCLH of $140- 150 million per month,” he stated. Also problematic, CCL had less momentum going into the year than both RCL and NCLH as its net yields were flat. The most significant issue for CCL, though, is that passengers from Europe make up a substantial portion of its customer base, and Chaiken has less confidence in certain European economies, namely Italy. Expounding on this, Chaiken said, “Given CCL sources its European itineraries (~30% of capacity) with guests from Europe, in our view it adds an additional layer of risk to the story not present in RCL or NCLH…So while we think CCL will live to fight another day, we think CCL will underperform peers as demand rebounds. In short, we think CCL has greater implicit leverage to continental Europe given they fill their European-based itineraries with customers who live in Europe.” Bearing this in mind, Chaiken took a spot on the sidelines. Along with his Neutral rating, he set a $12 price target. This target suggests shares could shed 18% of their value in the next year. The verdict is in, and the rest of the Street agrees with Chaiken. 3 Buys, 8 Holds and 3 Sells add up to a Hold consensus rating. That said, the $19.33 average price target does indicate upside potential, 32% to be exact. (See Carnival price targets and analyst ratings on TipRanks)

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