The high-end consumer is embracing travel this summer. These stocks will benefit, says Morgan Stanley

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 61%
  • Publisher: 72%

American Airlines Group Inc News

Airlines,Travel,Norwegian Cruise Line Holdings Ltd

More higher-income consumers plan to travel this summer than their lower-income counterparts, a Morgan Stanley survey found.

Americans might be watching their spending amid persistent inflation, but it's not deterring many of them from traveling this summer — especially those with higher incomes. Morgan Stanley and AlphaWise polled about 2,000 U.S. consumers in May and found that 60% of consumers are preparing to take a summer trip. Among consumers who earn between $75,000 and $150,000, 75% said they have travel plans, and the figure jumps to 78% for consumers making more than $150,000, the poll found.

Its proposed acquisition of Hawaiian gives Alaska Airlines a much larger piece of the premium market, he noted. Shanker also likes American Airlines , which he said "may be one of the cleanest stories among our coverage with rising numbers, clean execution, improving balance sheet and low noise." Its management has also noted its premium revenue is nearly 20% from last year and currently makes up 61% of revenue, he said.

Source: News Formal (newsformal.com)

Airlines Travel Norwegian Cruise Line Holdings Ltd Carnival Corp Royal Caribbean Cruises Ltd Wyndham Hotels & Resorts Inc Hilton Worldwide Holdings Inc Marriott International Inc Alaska Air Group Inc Delta Air Lines Inc Stock Markets Investment Strategy Hawaiian Holdings Inc Business News

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morgan Stanley's Slimmon names tech stocks to buy at a 'reasonable price'Though he fears a change in market conditions could cause 'some sort of equity correction,' the portfolio manager says it's 'clear sailing' for stocks for now.
Source: CNBC - 🏆 12. / 72 Read more »

Morgan Stanley says Elon Musk 'needs Tesla more than ever'Morgan Stanley says Elon Musk 'needs Tesla more than ever'
Source: Investingcom - 🏆 450. / 53 Read more »

The market is still underestimating the number of cuts this year: Morgan StanleyThe market is still underestimating the number of cuts this year: Morgan Stanley
Source: Investingcom - 🏆 450. / 53 Read more »

Morgan Stanley's Latest Insights: Strong Earnings Beat and Stock PerformanceMorgan Stanley's Latest Insights: Strong Earnings Beat and Stock Performance
Source: Investingcom - 🏆 450. / 53 Read more »

Morgan Stanley picks global stocks to play a $100 billion AI boom, giving one 40% upsideDemand for AI 'enablers' is surging, Morgan Stanley says, and a number of companies in Asia are set to benefit in a big way.
Source: CNBC - 🏆 12. / 72 Read more »

Morgan Stanley throws in the towel: S&P 500 price target raised by 20%Morgan Stanley throws in the towel: S&P 500 price target raised by 20%
Source: Investingcom - 🏆 450. / 53 Read more »