Carnival Corp. (CCL): 8% Selloff Is Too Severe - Nomura

Nomura/Instinet analyst, Harry Curtis, reiterated his Buy rating on shares of Carnival Corporation (NYSE: CCL) and cut his price target to $74 from $86 after shares pulled back 8% after hours when the company announced a yield of 1.5% and flat pricing for the next three quarters. However, the company also announced 2019’s bookings up 20-25% YoY at slightly higher prices and penetration in all markets is increasing.

However, the analyst thinks this is overdone stating "CCL’s 8% correction (S&P500 -1.4%) is too severe in our view, particularly since 2H18 guidance was impacted by only fuel and FX, not yield or NCCs. Our conversations with other cruise managements yesterday did not indicate decelerating prices in 2H".

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 $58.54 yesterda

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