Tags: cnbc | cuba | stocks | invest

CNBC: 4 Stocks Which Will Cash In on Cozy US, Cuba Relations

CNBC: 4 Stocks Which Will Cash In on Cozy US, Cuba Relations

By    |   Tuesday, 22 March 2016 10:50 AM


Some companies have jumped at the opportunity to reach the Cuban market as the U.S. eases economic restrictions.

To be sure, American businesses are preparing for the possibility of gaining new customers in a country of more than 11 million people, the largest in the Caribbean ahead of Haiti, the Dominican Republic and Puerto Rico.

“Cuba is open for business,” said Richard Feinberg, a senior fellow at the Brookings Institution who spoke at the recent 2nd Cuba Opportunity Summit in New York.

CNBC’s "Fast Money" traders picked four stocks that could benefit from business on the island:
  • Cruise operator Carnival announced Monday that it received Cuban approval to sail to the island starting in May. Trader Brian Kelly said new cruises could boost Carnival, as they may bring "incremental" revenue.
  • PayPal CEO Dan Schulman traveled to Cuba this week. In a blog post Sunday, he said he hoped to bring the company's Xoom money transfer service to the island by the end of the year. Trader Dan Nathan highlighted the company as a possible play on Cuban commerce.
  • Trader Karen Finerman looked to Coca-Cola, which she said could potentially benefit from business on the island.
  • Airline operator Copa Holdings may also get a boost from increased travel to the island, said trader Tim Seymour. The stock has soared about 45 percent this year.
Cuba saw growth reach 4 percent last year as the centrally-planned economy gradually opened up and the country re-builds ties with the West, Reuters reported.

Cuba is hoping to attract flows of foreign investment with a new port 25 miles from Havana that it is promoting as a potential regional trade and business hub, offering 10-year tax holidays to foreign businesses that set up there.

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Some companies have jumped at the opportunity to reach the Cuban market as the U.S. eases economic restrictions.
cnbc, cuba, stocks, invest
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2016-50-22
Tuesday, 22 March 2016 10:50 AM
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