UBS Maintains a 'Buy' on Carnival Corporation (CCL); Q2 Review
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Price: $33.04 -2.28%
Rating Summary:
4 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
4 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade CCL Now!
UBS maintains a 'Buy' on Carnival Corporation (NYSE: CCL) price target of $40.00 (from $39.00).
Analyst, Robin M. Farley, said, "2012 net yield guidance narrowed to -3% to -4%, at the bottom half of the previous range of -2% to -4%. Given the level of promotional activity in the market, this is not surprising, and the company has stayed within the previous guidance range given. EPS guidance was raised due to fuel and FX, which were factors known before today, while the slightly lower (but still within guidance) yield was offset by greater non-fuel cost saves, so a net neutral impact outside of fuel and FX."
Farley still sees challenges in Europe and also mentions that Carnival has only repurchased a small amount of stock so far this year, but will continue to do so opportunistically ($330 million authorized buyback remaining). Farley also raises FY12 EPS estimate from $1.78 to $1.85 and FY13 from $2.50 to $2.56.
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 $33.66 yesterday, with a 52 week range of $28.52-$38.83.
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Analyst, Robin M. Farley, said, "2012 net yield guidance narrowed to -3% to -4%, at the bottom half of the previous range of -2% to -4%. Given the level of promotional activity in the market, this is not surprising, and the company has stayed within the previous guidance range given. EPS guidance was raised due to fuel and FX, which were factors known before today, while the slightly lower (but still within guidance) yield was offset by greater non-fuel cost saves, so a net neutral impact outside of fuel and FX."
Farley still sees challenges in Europe and also mentions that Carnival has only repurchased a small amount of stock so far this year, but will continue to do so opportunistically ($330 million authorized buyback remaining). Farley also raises FY12 EPS estimate from $1.78 to $1.85 and FY13 from $2.50 to $2.56.
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 $33.66 yesterday, with a 52 week range of $28.52-$38.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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