Cruise Stocks Surge on Strong Demand and Analyst Upgrades

Cruise-line operators Carnival Corp., Norwegian Cruise Line Holdings Ltd., and Royal Caribbean Cruises Ltd. saw their stocks rise after Bank of America and JPMorgan Chase signaled increasing confidence in demand despite consumer uncertainty. Both analysts highlighted a continued uptick in demand even with consumers mindful of their discretionary spending as concern builds that a recession may lie ahead. The cruise industry’s long booking window and strong current demand could allow it to be less susceptible to a slowdown in the leisure consumer relative to other areas of travel.