Mizuho raised the firm’s price target on Carnival to $25 from $22 and keeps an Outperform rating on the shares. The firm says Carnival continues to be its top pick in the leisure group. The analyst sees upside from lower fuel prices as the company has no hedges and upside from currency moves. Mizuho also sees upside to Carnival’s core underlying trends from strong yield growth and improving operating leverage. The shares offer a compelling free cash flow and deleveraging opportunity, contend the firm.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCL:
- Carnival call volume above normal and directionally bullish
- Carnival put volume heavy and directionally bearish
- Norwegian Cruise Line price target raised to $17.50 from $16.50 at Morgan Stanley
- Royal Caribbean price target raised to $154 from $140 at Morgan Stanley
- Carnival price target raised to $15 from $13.50 at Morgan Stanley