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Three cruise stocks are among this week’s best performers as summer approaches

Chaim Potok by Chaim Potok
June 2, 2023
in Investing
Three cruise stocks are among this week’s best performers as summer approaches
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Amid another winning week for the market, certain stocks stood out from the rest. The S & P 500 is up 1.8% week to date, on pace for a third consecutive week in the green. The Dow Jones Industrial Average went positive from gains Friday and was last up 2% for the week. The Nasdaq Composite is about 1.9% higher week to date amid a six-week positive streak. These gains come after Congress passed a bill to raise the debt ceiling following weeks of market uncertainty. A strong May jobs report also pushed markets higher Friday. Take a look at some of this week’s top outperformers as of Friday morning, and where analysts see them going forward. Match Group , the parent company of dating platforms such as Tinder and Hinge, was this week’s biggest gainer, with shares rising more than 13%. Analysts see the stock surging an additional 36.8%, according to FactSet data. Meanwhile, the stock is down about 5% year to date. Shares have plunged 53% over the past 12 months. Cruise companies Royal Caribbean and Norwegian Cruise Line also had a strong week, gaining 7.8% and 9.3%, respectively. Shares of Royal Caribbean jumped more than 3% Friday and reached a new 52-week high. The stock has surged 74% in 2023, but more than 6 out of 10 analysts rate it a buy. The consensus price target for shares implies just 7.2% additional upside, per FactSet data. Another cruise line on the list is Carnival , which saw shares rise 6.7% week to date. However, the stock is already trading 5% above its average price target. Satellite company Dish Network ‘s shares popped 15% during Friday’s trading session alone. A report from Bloomberg News said Amazon is in negotiations with Dish and other telecommunications companies about the possibility of launching a low-cost mobile plan service for its Prime subscribers. Dish could soar an additional 124.1% based off the average price target on shares. Less than 30% of analysts hold a buy rating on shares, according to FactSet data. Other notable gainers this week include Enphase Energy and electric vehicle maker Tesla . Intel , Netflix and Digital Realty Trust also were named on the list.

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