Nomura Securities Reiterates Buy on Carnival Corp. (CCL) Following 5% Reversal
Nomura Securities reiterated a Buy rating and $62.00 price target on Carnival Corporation (NYSE: CCL) after the company increased 5% and closed flat. Comments increased concern about yield growth in 2017.
Analyst Harry Curtis commented, "The fear is that RCL and NCLH could also shift supply, which, in addition to new capacity, could bring total Caribbean growth to 5% next year. The Caribbean is leading the industry’s pricing power in 2016, so increased supply raises the risk that pricing declines in 2017. In reality, CCL is booked well ahead in the Carib. next year, and the momentum has not softened."
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Shares of Carnival Corporation closed at $43.73 yesterday.