Nomura Instinet analyst Harry Curtis says he disagrees with Morgan Stanley's bearish note yesterday on cruise lines. Conversations with industry managements and pricing survey data indicate that Q3 Caribbean weakness is isolated and should be more than offset by stronger yields elsewhere in the globe, Curtis tells investors in a research note. The bear thesis is that weak Caribbean pricing, coupled with unfavorable fuel and currency trends, could lead to substantial earnings guidance misses in the second half of 2018, the analyst adds. He disagrees and believes yields are likely to remain ahead of guidance for 2018.