Enter Carnival (CCL) Stock at $35 to $36, Says Nomura

As expected, despite topping Q4 estimates , Carnival Corporation (NYSE: CCL) stock sold off after the company reported weak guidance. With the stock nearing Nomura's entry point of $35 to $36, analysts thinks now could be the right time to load up.

"CCL's guidance for 1-2% constant dollar yield growth for 2013 with Wave season still a few weeks off could be well off the mark . . . Judging from the positive trajectory of sequential pricing in our forward rate survey, and conversations with travel agents, 2013's Wave could add 150-200bps of yield to management's outlook.,” said analyst Harry C. Curtis.

"The next data point for investors will be in ~ five weeks when Royal Caribbean (NYSE: RCL) gives its early commentary on Wave season. With modest 'green shoots' coming from Germany where CCL sources 8% of its customers, pricing momentum could build over the next few months pushing constant dollar yields above 3%, which would be positive if estimates settle at 2%,” added Curtis.

Nomura Securities has a Buy rating on Carnival Corporation (NYSE: CCL) with a price target of $42.00.

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 $36.99 yesterday.

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