Citigroup Cuts Estimates on Carnival Corporation (CCL)
On Wednesday analysts at Citigroup reported that estimates were lowered through 2014 on cruise operator Carnival Corporation (CCL) as the company offered conservative guidance.
Citigroup maintains a “Buy” rating for CCL and see shares reaching $44. That price target is an +18.7% upside to Monday’s closing price of $37.08.
Carnival shares were up 72 cents, or +1.94%, in premarket trading on Wednesday. The stock is up +13.6% year-to-date.
The Bottom Line
Shares of Carnival Corp (CCL) have a 2.70% dividend yield, based on Monday’s closing stock price of $37.08. The stock has technical support in the $33-$35 price area. If the shares can firm up, we see overhead resistance around the $39-$40 price levels.
Carnival Corporation (CCL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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