Market Overview

UPDATE: Stifel Lowers PT on Carnival Corporation Following F3Q13 Review

Related CCL
JPMorgan Disembarks From Positive Ratings Port On Cruise Lines; Stocks Sink
SunTrust Warns Of 'Broad Based Slowdown' In Cruise Pricing During September
My Dividend Growth Portfolio - Q3 2016 Summary (Seeking Alpha)

In a report published Wednesday, Stifel analyst Steven Wieczynski reiterated a Buy rating on Carnival Corporation (NYSE: CCL), but lowered the price target from $44.00 to $42.00.

In the report, Stifel noted, “While we cautioned investors ahead of the quarter on the potential for several forthcoming negative catalysts, we did not expect the more meaningful of the two, more specifically a reset in investor expectations, to come with yesterday's print. Paced by what we would characterize as a slower than anticipated recovery in the Carnival brand in the wake of February's Triumph event, we sense management used yesterday's report and its related forward-looking FY14 commentary to reset investors' expectations heading into the end of the year. With that said, we would not be surprised if consensus FY14 estimates are significantly reduced exiting the quarter, as we suspect most on the Street are likely to overreact to management's incrementally negative forward-looking outlook.”

Carnival Corporation closed on Tuesday at $34.54.

Latest Ratings for CCL

Oct 2016MacquarieInitiates Coverage onNeutral
Oct 2016HSBCInitiates Coverage onBuy
Sep 2016Deutsche BankInitiates Coverage onHold

View More Analyst Ratings for CCL
View the Latest Analyst Ratings

Posted-In: Steven Wieczynski StifelAnalyst Color Price Target Analyst Ratings


Related Articles (CCL)

View Comments and Join the Discussion!