Carnival Corporation (CCL) PT Lowered to $61 at Deutsche Bank

Deutsche Bank lowered its price target on Carnival Corporation (NYSE: CCL) to $61.00 (from $62.00) while maintaining a Hold rating. The co.'s 4Q outlook shows that the impact on yields from Hurricanes Irma and Maria (150bps) is offset by what would have been a 150bps increase to yields from prior implied guidance.

Management reiterated commentary about the current pace of 1H18 bookings that is being viewed bullishly by the market. Analyst Chris Woronka is a bit wary that 2018 ultimately plays out quite as strongly on the yield front as consensus is currently forecasting.

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