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UPDATE: Morgan Stanley Raises PT to $37 on Carnival on Yield Momentum

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Morgan Stanley reiterated its Neutral rating on Carnival (NYSE: CCL) and raised its price target from $34 to $37.

Morgan Stanley commented, "F13 EPS cut 7% due to cost pressures, but PT rises to reflect good yield momentum, our expectation of a $1bn annual buyback, and a return to normalized profits by F14. We remain EW as the risk-reward looks evenly skewed. … CCL is a macro play, but better GDP growth has historically led to higher fuel costs."

Carnival closed at $36.43 on Friday.

Posted-In: Morgan StanleyAnalyst Color Price Target Intraday Update Analyst Ratings

 

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