Nomura Reiterates Buy, Lifts PT on Carnival (CCL)

Nomura Securities reiterated a Buy rating on Carnival Corporation (NYSE: CCL) and raised its price target to $42.00 (from $40.00).

Analyst Harry Curtis said "It is early in the cruise line demand/pricing recovery, but CCL’s 3Q EPS positives continue to outweigh the negatives. We estimate that only 30% of 2013 berths have been sold thus far, about 65% of which (20% of 2013’s total) were probably sold at lower YOY prices. Roughly 70% of 2013 occupancy remains to be sold and pricing momentum is up. The stock has recovered (nicely), up 16% YTD, 13% upside over the NTM could be conservative if momentum continues."

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 $37.08 yesterday.

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