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CCL

Carnival

$57.93

0.385 (0.67%)

, RCL

Royal Caribbean

$108.14

3.41 (3.26%)

08:19
07/10/18
07/10
08:19
07/10/18
08:19

Carnival price target lowered to $71 at Goldman Sachs

Goldman Sachs analyst Stephen Grambling lowered his price target on Carnival (CCL) to $71 from $73 and kept his Neutral rating as part of his broader research note on the leisure cruise sector. The analyst states that despite the company's Q2 earnings beat driven by strong close-in bookings across geographies, he expects higher fuel and FX headwinds to more than offset the company's raised net yield growth estimates. Grambling also raises his estimate of direct cruise cost growth to 1.5% in FY18 vs. Carnival's guidance of 1%. As part of his research note, the analyst also lowers his price target on Royal Caribbean Cruises (RCL) to $134 from $140 and Norwegian Cruise Line Holdings (NCLH) to $63 from $66 to reflect the risks around "fuel prices, inflation/deflation in other input costs or FX, exogenous events, and pricing power."

CCL

Carnival

$57.93

0.385 (0.67%)

RCL

Royal Caribbean

$108.14

3.41 (3.26%)

NCLH

Norwegian Cruise Line

$47.78

0.74 (1.57%)

CCL Carnival
$57.93

0.385 (0.67%)

07/03/18
MSCO
07/03/18
NO CHANGE
MSCO
Morgan Stanley remains cautious on cruise lines after channel checks
Morgan Stanley analyst Jamie Rollo said his channel checks with U.S. travel agents show solid booking volumes for the cruise lines, but at flattish prices and his web research shows mixed results. Rollo said he remains relatively cautious on the cruise lines, citing industry supply growth, slowing yield momentum, and weakness in the Caribbean and China.
07/06/18
ARGS
07/06/18
DOWNGRADE
ARGS
Hold
Carnival downgraded to Hold from Buy at Argus
07/06/18
ARGS
07/06/18
DOWNGRADE
ARGS
Hold
Carnival downgraded to Hold at Argus on weaker near-term outlook
As reported earlier, Argus analyst John Staszak downgraded Carnival Corp to Hold from Buy, saying the company is faced with near-term challenges such as more difficult prior-year comparisons, soft advance bookings, higher fuel costs, and adverse FX rates. The analyst also lowers his FY18 EPS view to $4.20 from $4.50, even as he retains a bullish view on the company over the long term based on its leading industry position and expectations of higher demand for cruise bookings by the retiring wealthy baby boomers. Staszak adds that the current valuation on Carnival at 13.6-times his new FY18 EPS target is reasonable even though it is below its 3-year historical average of 16-times.
07/06/18
07/06/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Arbutus Biopharma (ABUS) downgraded to Neutral from Buy at B. Riley FBR with analyst Madhu Kumar citing valuation following the stock's recent rally. 2. Gannett (GCI) downgraded to Underweight from Neutral at JPMorgan with analyst Alexia Quadrani saying she expects ongoing secular concerns in the print marketplace to bring further volatility. 3. L'Oreal (LRLCY) downgraded to Hold from Buy at Deutsche Bank with analyst Eva Quiroga stating that following the stock's outperformance, she sees "limited incremental upside at best" from current share levels. 4. Carnival (CCL) downgraded to Hold from Buy at Argus with analyst John Staszak saying the company is faced with near-term challenges such as more difficult prior-year comparisons, soft advance bookings, higher fuel costs, and adverse FX rates. 5. Preferred Bank (PFBC) downgraded to Equal Weight from Overweight at Stephens with analyst Tyler Stafford citing valuation, noting that the stock now trades in-line with its peer group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
RCL Royal Caribbean
$108.14

3.41 (3.26%)

06/13/18
NOMU
06/13/18
NO CHANGE
Target $86
NOMU
Buy
Nomura sees 40% upside for shares in Cruise Line group
Nomura Instinet analyst Harry Curtis increased his price targets for the Cruise Line Group, which now imply 40% upside for his Buy-rated stocks Carnival (CCL), Norwegian Cruise Line (NCLH) and Royal Caribbean (RCL). The analyst remains positive on the group citing around 18% earnings growth, low leverage, and the potential for increasing capital returns in 2019. Further, his study of Cruise Line stock performance during periods of positive 3% net yield growth shows that the group tends to start outperforming around June and continues to rally through year-end. Curtis boosted his price target for Carnival to $86 from $82, for Norwegian to $72 from $62 and for Royal Caribbean to $156 from $152.
06/15/18
BERN
06/15/18
NO CHANGE
Target $145
BERN
Outperform
Royal Caribbean paid 'reasonable' price to fill portfolio hole, says Bernstein
After Royal Caribbean announced it will acquire a majority stake in privately-held luxury operator Silversea Cruises for $1B, Bernstein analyst David Beckel said the deal makes strategic sense, as it fills a hole in Royal's portfolio, and he believes the price seems "reasonable." Royal also provided an update on current booking trends and EPS guidance, which "stole the show," according to Beckel, who keeps an Outperform rating and $145 price target on Royal Caribbean shares.
06/25/18
TIGR
06/25/18
NO CHANGE
TIGR
Norwegian Cruise Line weakness a buying opportunity, says Tigress Financial
Tigress Financial analyst Ivan Feinseth reiterated a Strong Buy rating on Norwegian Cruise Line, saying the recent weakness in the cruise line sector, caused by Carnival Corp's (CCL) lower-than-expected forward guidance, which pushed peers including Norwegian and Royal Caribbean lower (RCL), is a "significant buying opportunity" for Norwegian shares. He said that Norwegian Cruise Line is the "best positioned to benefit" as it has the "youngest and most feature-rich fleet," and believes it will continue to dominate the profitable luxury and premium cruise market, citing the company's growing cash flow, a recently announced $1B share repurchase plan, a potential competitive dividend that could be announced later this year.
NCLH Norwegian Cruise Line
$47.78

0.74 (1.57%)

06/11/18
JPMS
06/11/18
NO CHANGE
JPMS
Cruise stocks could reverse positively in near term, says JPMorgan
JPMorgan recently surveyed June pricing for cruise itineraries marketed in the U.S. for select Carnival (CCL), Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH) brands. On a global basis, gross ticket prices for itineraries sailing over the next 12 months were steady for Royal and Norwegian compared to last month while Carnival prices improved 100 basis points compared to last month and are now flat year-over-year, JPMorgan analyst Joseph Greff tells investors in a research note. He notes that on a quarterly basis, and focusing in on the Caribbean, Q3 itineraries were softer sequentially and Europe held steady across all companies. The latest data points on Caribbean pricing are a "mixed bag but mostly softer" compared to last month, while global itinerary prices are holding up well overall, Greff writes. The analyst continues to like shares of Royal Caribbean and Norwegian Cruise Line. He expects cruise stocks could reverse positively over the near term, noting that they tend to outperform in Q3 and Q4.

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$NSD

NASDAQ Market Internals

$0.00

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KMB

Kimberly-Clark

$103.48

-0.43 (-0.41%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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15:15
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General news
Treasury Closing Summary: »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$280.34

-0.7 (-0.25%)

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ISRG

Intuitive Surgical

$525.06

-2.61 (-0.49%)

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Options
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WSM

Williams-Sonoma

$62.96

1.63 (2.66%)

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Upside call buyers in Williams Sonoma as shares rally »

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14:50
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Conference/Events
Morgan Stanley economist/strategist to hold analyst/industry conference call »

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MRK

Merck

$62.68

-0.26 (-0.41%)

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MSFT

Microsoft

$104.59

-0.49 (-0.47%)

14:49
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Options
Microsoft options imply 4.8% move in share price post-earnings, above median historical move »

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ETP

Energy Transfer Partners

$20.14

0.74 (3.81%)

14:45
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Options
Energy Transfer Partners call volume above normal and directionally bullish »

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14:45
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COF

Capital One

$95.79

-1.3 (-1.34%)

, SYF

Synchrony

$33.47

0.06 (0.18%)

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Periodicals
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HQY

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GE

General Electric

$13.80

0.05 (0.36%)

, HON

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$147.50

-1.65 (-1.11%)

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GE

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$13.80

0.05 (0.36%)

HON

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$147.50

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SLB

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BHGE

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STT

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VFC

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STI

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GNTX

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SKX

Skechers

$33.23

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ISRG

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TSLA

Tesla

$321.44

-2.57 (-0.79%)

, PCRFY

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$0.00

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Panasonic suspends supplier of cobalt used in Tesla batteries, Reuters reports »

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MSFT

Microsoft

$104.45

-0.63 (-0.60%)

, ISRG

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$525.36

-2.31 (-0.44%)

14:27
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SWKS

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$61.35

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SKX

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