Jefferies Starts Carnival Corporation (CCL) at Buy

Jefferies initiates coverage on Carnival Corporation (NYSE: CCL) with a Buy rating and $40 price target, suggesting 25% upside.

The firm also started rival Royal Caribbean (NYSE: RCL) at Buy.

The firm comments, "In a low-growth economic environment, we think a combination of low capacity growth and hence lower capex, proven cost control and demographics/value for money will push ROIC above WACC for both companies. This is not reflected in current share prices."

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 $31.05 yesterday.

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