Citadel Securities Maintains an 'Add' on Carnival Corporation (CCL); Reducing Estimates on Geopolitical Disruptions, Cost Headwinds

Citadel Securities maintains an 'Add' on Carnival Corporation (NYSE: CCL), PT lowered from $49 to $46.

Citadel analyst says, "For FY2011, our net yield assumption remains unchanged at 4.5% YoY (in current dollars). Unfortunately, ongoing MENA unrest and elevated costs (food, fuel and labor) are having a negative impact on the earnings outlook. Our new adjusted EPS and EBITDA estimates for 2011 are $2.50 (from $2.67) and $3.87B (from $4.00B). For 2012, we now expect EPS of $2.97 (from $3.16) and EBITDA of $4.35B (from $4.49B) on net yield growth of 3.5% (from 3.3%). For 2013, we expect net yields of 3.0% (unchanged), and EPS of $3.44 (from $3.70) and EBITDA of $4.8B (from $4.99B)."

For more ratings news on Carnival Corporation click here and for the rating history of Carnival Corporation click here.

Shares of Carnival Corporation closed at $37.24 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'