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UPDATE: Jefferies Downgrades Carnival, Says Shares Reflect 'Best-Case Scenario'

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Despite a slight raise from $31 to $33 in the price target, Jefferies analyst Ian Rennardson downgraded Carnival (NYSE: CCL) to Underperform from Hold.

Rennardson believes that Carnival shares reflect a best-case scenario with the risks being on the downside. In contrast, Rennardson is more optimistic about Royal Caribbean (NYSE: RCL), citing "superior operating performance" and "an improving balance sheet". Rennardson has reiterated a Buy rating for Royal Caribbean and raised the price target to $58.

At last check, shares of Carnival and Royal Caribbean are trading at $40.20 and $52.21 respectively.

Latest Ratings for CCL

DateFirmActionFromTo
Jun 2016Goldman SachsMaintainsNeutral
Jun 2016Sterne Agee CRTInitiates Coverage onBuy
May 2016Tigress FinancialUpgradesNeutralBuy

View More Analyst Ratings for CCL
View the Latest Analyst Ratings

Posted-In: Ian Rennardson JefferiesAnalyst Color Downgrades Price Target Reiteration Analyst Ratings

 

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