Stifel Reiterates Buy Following Carnival Corp's (CCL) Strong 3Q
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Stifel reiterated a Buy rating and $60.00 price target on Carnival Corporation (NYSE: CCL) following the company's 3Q. CCL delivered the strongest quarterly earnings in the company’s history, with the results exceeding guidance and consensus. Adjusted EPS was reported at $1.92, ahead of the $1.88 consensus. Management’s guidance called for EPS of $1.83 to $1.87.
Analyst Steven Wieczynski commented, "At this point, we don’t know what there is left to say. Not only did CCL deliver the strongest quarterly earnings in the company’s history, with the results exceeding guidance and consensus, the company raised its full-year EPS outlook and spoke positively about its order book through F1H17. In response to the highlighted accomplishments, the market treated CCL shares to another selloff, with shares trading off by as much as 3% at their intraday lows. We get it, this is not a story absent a bear case, particularly as concerns over the potential for a global consumer-led macro slowdown continue to mount; however, we think it is time investors give CCL shares the credit they are due."
Shares of Carnival Corporation closed at $46.47 yesterday.
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