Deutsche Bank Reiterates Buy on Carnival (CCL), Boosts PT as Buy Backs Continue

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Deutsche Bank maintained a Buy rating on Carnival Corporation (NYSE: CCL) and raised its price target to $40.00 (from $38.50).

Analysts Simon Champion said "Whilst many commentators had thought that the rise in fuel prices since the interims would lead to a downgrade to the group’s 180-190c 2012E EPS guidance, management managed to narrow (rather than lower) this range to 183-187c helped by a 50bp rise in the midpoint of full year net yield guidance."

Deutsche bank was also surprised by Carnival's $67 million stock buy back, which is expected to continue, and may help support the share price.

For an analyst ratings summary and ratings history on Carnival Corporation click here. For more ratings news on Carnival Corporation click here.

Shares of Carnival Corporation closed at $37.00 yesterday, with a 52 week range of $28.52-$38.14.

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