Carnival (CCL) March volatility elevated into Q1 and 2012 booking outlook

Carnival (NYSE: CCL) is expected to release Q1 results before the market open on March 9. Stifel Nicolaus has a Buy rating and a $35 price target on the company. March put option implied volatility is at 49, April is at 39; compared to its 26-week average of 36 according to Track Data, suggesting larger near term price movement.

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