UPDATE - Barclays Downgades Carnival (CCL) to Equalweight; Sees Continued Softness From Concordia Debacle

Shares of Carnival Corporation (NYSE: CCL) are trading down about 0.4% (-$0.11) in afternoon trading. The stock was knocked down a few weeks ago, dropping from about $35 to $29 after the Concordia debacle.

This morning, Barclays downgraded the leisure stock from Overweight to Equalweight. Price target was also cut from $30 to $26.

Analyst, Felicia R. Hendrix, said, "In our view, the main incremental datapoint from CCL's FY2011 10K is the confirmation of a steep decline in booking volumes following the Concordia incident."

Hendrix sees the negative impact continuing near-term and feels current consensus estimates remain too high.

Barclays lowers FY12 EPS estimates from $1.90 to $1.67 and FY13 from $2.25 to $1.98.

Other firms on Wall Street are mixed, with UBS and Nomura maintaining 'Buy' ratings, but firms JPMorgan and Susquehanna downgraded the stock. HSBC upgraded the stock.

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