Citigroup Cuts Estimates on Carnival Corporation (CCL)

Citigroup Cuts Estimates on Carnival Corporation (CCL)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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