Carnival Corp. (CCL): Upside To Yield Guide - UBS

UBS analyst, Robin Farley, reiterated her Buy rating on shares of Carnival Corporation (NYSE: CCL) after cumulative advance bookings for FY'18 are ahead of the prior year and at higher prices.

The analyst stated "this compares to previous commentary of bookings for H1'18 still well ahead in price and occupancy. Since Nov, booking volume for '18 has been running well ahead of prior yr
at higher prices".

The new PT of price target of $74 is down from $76 but based on the higher end of the 14x-16x NTM earnings multiple range.

Given how strong close-in bookings came in Q4, we believe there is upside to our 2018
yield expectation for CCL, so we are raising our yield estimate to +2.9% from +2.2%,
slightly above CCL guidance of +2.5% and we believe there is upside to that outlook.

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 $68.13 yesterday.

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