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In a report published Wednesday, Stifel Nicolaus analyst Steven Wieczynski reiterated a Buy rating on
Carnival CorporationCCL, and raised the price target from $40.00 to $44.00.
In the report, Stifel Nicolaus noted, “Although shares traded 5% higher on the F2Q13 print and news of a reshuffling in the executive suite, we believe the majority of the move can be directly attributed to management's decision to restate its previously revised FY13 net yield and EPS guidance. In doing so, management effectively eliminated an overhang on the name that began to materialize in recent weeks, as we believe investors started to price in a guidance reduction, driven by further deterioration in Carnival brand bookings and/or further softening in the European market, into shares.”
Carnival Corporation closed on Tuesday at $34.89.
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