Carnival Cruise Lines (CCL) Booking Trends Set to Improve - Analyst
Deutsche Bank today maintained a Buy rating on Carnival Corporation (NYSE: CCL) with a price target of $40.00. Comments follow Carnival's positive Q2 results and news it will split the chairman and CEO roles.
"Both bookings and pricing for the next three quarters are ahead of last year excluding the Carnival Cruise Lines brand. As expected this is currently partially offset by Carnival Cruise Lines (30% of group capacity) where volumes are lower yoy with pricing also down mid-single digit," said analyst Richard Carter. "In our view booking trends at Carnival Cruise Lines are set to improve significantly in the second half of the year on the back of more focused marketing campaigns and closer cooperation with agents."
Commenting on the change to management structure, Carter said, "We feel the move to split the CEO & Chairman's roles will be taken positively."
For an analyst ratings summary and ratings history on Carnival Corporation (NYSE: CCL) click here. For more ratings news on Carnival Corporation click here.
Shares of Carnival Corporation closed at $33.22 yesterday, with a 52 week range of $31.65-$39.95.
"Both bookings and pricing for the next three quarters are ahead of last year excluding the Carnival Cruise Lines brand. As expected this is currently partially offset by Carnival Cruise Lines (30% of group capacity) where volumes are lower yoy with pricing also down mid-single digit," said analyst Richard Carter. "In our view booking trends at Carnival Cruise Lines are set to improve significantly in the second half of the year on the back of more focused marketing campaigns and closer cooperation with agents."
Commenting on the change to management structure, Carter said, "We feel the move to split the CEO & Chairman's roles will be taken positively."
For an analyst ratings summary and ratings history on Carnival Corporation (NYSE: CCL) click here. For more ratings news on Carnival Corporation click here.
Shares of Carnival Corporation closed at $33.22 yesterday, with a 52 week range of $31.65-$39.95.