Nomura Securities Maintains a 'Buy' on Carnival Corp (CCL); Raising Estimates and Price Target

Nomura Securities maintains a 'Buy' on Carnival Corporation (NYSE: CCL) price target of $40.00 (from $36.00).

Analyst, Harry Curtis, said, "Given the large impact that the Costa Concordia shipwreck had on 2012 bookings, we continue to believe that investors should focus on 2013 earnings. Recent booking trends support our view that demand should approach pre-Concordia levels by the start of 2013’s wave season. Over the past seven weeks, bookings are up 8% year-over-year, excluding Costa, and have risen 25% at Costa during the same period. While prices remain lower, this activity marks an improvement in consumer perception."

Nomura raises Q4 EPS estimate from $0.12 to $0.18, FY12 from $1.71 to $1.86, FY13 from $2.38 to $2.67 and FY14 from $2.89 to $3.19.

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.

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