Nomura Securities maintains a 'Buy' on Carnival Corporation (CCL); Expect Yield Recovery in 2013/14
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Price: $27.73 -1.39%
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Buy' on Carnival Corporation (NYSE: CCL) price target of $36.00.
Analyst, Harry Curtis, said, "Our revised 2012 EPS of $1.68 (from $2.06) includes a $(0.65) impact from the Costa brand, $(0.40) from fuel and ForEx, and $(0.10) from lower earnings across the rest of the fleet as a result of the Concordia incident. Our 2013 EPS declines from $2.62 to $2.38 and we are introducing our 2014E EPS of $2.89. Short-term demand issues, bunker fuel, and negative headlines have contributed to investor apathy and our earnings reductions. We expect yields to improve 400bp next year as cruise demand returns to normal levels. Returning demand and cost control vigilance has set the stage for ~30% earnings growth in 2013 and 2014. We recommend that investors with a longer-term horizon should consider CCL."
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 $30.57 yesterday.
Analyst, Harry Curtis, said, "Our revised 2012 EPS of $1.68 (from $2.06) includes a $(0.65) impact from the Costa brand, $(0.40) from fuel and ForEx, and $(0.10) from lower earnings across the rest of the fleet as a result of the Concordia incident. Our 2013 EPS declines from $2.62 to $2.38 and we are introducing our 2014E EPS of $2.89. Short-term demand issues, bunker fuel, and negative headlines have contributed to investor apathy and our earnings reductions. We expect yields to improve 400bp next year as cruise demand returns to normal levels. Returning demand and cost control vigilance has set the stage for ~30% earnings growth in 2013 and 2014. We recommend that investors with a longer-term horizon should consider CCL."
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 $30.57 yesterday.
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