Carnival delivers two retired cruise ships for responsible recycling in Turkey » 09:2608/0308/03/20
Carnival (CCL) &…
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Berenberg upgrades Carnival plc to Hold, keeps Carnival Corp. at Sell » 06:5907/2907/29/20
As previously reported,…
As previously reported, Berenberg analyst Stuart Gordon upgraded Carnival plc (CUK) to Hold from Sell with an 800 GBp price target after updating his estimates following the company's Q2 report. While he applauds the acceleration in fleet adjustments, he sees "little reason for increased optimism" as he still believes Carnival will struggle to generate cash given its need for sustained investment and its debt load. Gordon maintains a Sell rating with a $10 price target on Carnival Corporation (CCL) shares.
Carnival plc upgraded to Hold from Sell at Berenberg » 05:0807/2907/29/20
Berenberg analyst Stuart…
Berenberg analyst Stuart Gordon upgraded Carnival plc to Hold from Sell with an 800 GBp price target.
|Over a week ago|
Fly Intel: Top five analyst downgrades » 10:0607/2107/21/20
TSLA, ES, NDAQ, NBL, CCL, CUK
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Market Perform from Outperform at JMP Securities with analyst Joseph Osha saying he believes that any immediate-term success that Tesla may discuss on its earnings call on Wednesday is now fairly reflected in the stock. While the analyst continues to believe Tesla can become a $100B car company by 2025, Osha cannot arrive at a reasonable basis arguing that the stock should be valued above current levels. 2. Eversource (ES) downgraded to Underperform from Neutral at Credit Suisse with analyst Michael Weinstein citing valuation. 3. Nasdaq (NDAQ) downgraded to Market Perform from Outperform at Raymond James with analyst Patrick O'Shaughnessy citing valuation. 4. Noble Energy (NBL) was downgraded to Market Perform from Outperform at BMO Capital, to Sector Perform from Outperform at RBC Capital, and to Tender from Buy at TD Securities. 5. Carnival (CCL) downgraded to Hold from Buy at HSBC with analyst Ali Naqvi saying the upside potential from a longer-term recovery is offset by near-term restart and execution risks and questions about how quickly the sector can return to service in North America. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Carnival downgraded to Hold on cruise resumption risk at HSBC » 06:1907/2107/21/20
As previously reported,…
As previously reported, HSBC analyst Ali Naqvi downgraded Carnival to Hold from Buy with a price target of $15.30, down from $15.90. The upside potential from a longer-term recovery is offset by near-term restart and execution risks and questions about how quickly the sector can return to service in North America, Naqvi tells investors.
Carnival reinitiates installation program of BioHiTech food waste digesters » 06:0307/2107/21/20
CCL, CUK, BHTG
BioHiTech Global (BHTG)…
BioHiTech Global (BHTG) announced today that Carnival (CCL, CUK), has reinitiated its installation program of BioHiTech's Revolution Series Digesters onboard its ships in preparation for the eventual resumption of cruising. BioHiTech said in a release, "BioHiTech has received purchase orders from Carnival Corporation valued at approximately $635,000 and expects to commence shipments late in the third quarter of 2020. The purchase orders are part of the previously announced purchase contract between the two companies with an estimated value of up to $14 million. The purchase contract calls for BioHiTech to provide each ship designated by Carnival Corporation with multiple Revolution Series Digesters as well as ongoing cloud-based data analytics and supplies. BioHiTech's Revolution Series Digesters will help further improve the environmental impact of Carnival Corporation's operations by safely disposing of food waste on-site and reducing the amount of greenhouse gases emitted from conventional processing systems. The Company's data analytics platform will also provide real-time transparency for food waste generation to help in Carnival Corporation's waste reduction efforts."
Carnival downgraded to Hold from Buy at HSBC » 05:3207/2107/21/20
HSBC analyst Ali Naqvi…
HSBC analyst Ali Naqvi downgraded Carnival to Hold from Buy with a $15.30 price target.
CDC extends 'No Sail Order' for cruise ships » 16:0007/1607/16/20
NCLH, CCL, RCL, CUK
On July 16, the CDC…
On July 16, the CDC extended the "No Sail Order and Suspension of Further Embarkation; Notice of Modification and Extension and Other Measures Related to Operations" signed by the CDC Director on April 9, subject to the modifications and additional stipulated conditions as set forth in this Order. The Order is effective upon signature and will be published in the Federal Register. This Order is in effect until one of the following occurs: the expiration of the Secretary of Health and Human Services' declaration that COVID-19 constitutes a public health emergency or the CDC Director rescinds or modifies the order based on specific public health or other considerations, or September 30, 2020. Reference Link
Carnival sells four ships in Holland America Line, will cancel cruises » 13:5607/1607/16/20
Carnival's Holland America Line announced that Amsterdam, Maasdam, Rotterdam and Veendam will be leaving the fleet and transferring to undisclosed buyers. The ships have been sold in pairs, with the S-Class Maasdam and Veendam transferring to one company in August, while the R-Class Amsterdam and Rotterdam will move to another company in fall. Holland America Line will cancel cruises for the four ships' deployments, with some select itineraries being assumed by other ships in the fleet. The 2021 Grand World Voyage aboard Amsterdam will be postponed until 2022 and will now sail aboard Zaandam. The Grand Africa Voyage departing Oct. 10, 2021, aboard Rotterdam will also sail aboard Zaandam on the same dates. "It's always difficult to see any ship leave the fleet, especially those that have a long and storied history with our company," said Stein Kruse, CEO of Holland America Group and Carnival UK. "However, Holland America Line has a bright future ahead that includes recent Pinnacle-Class additions, with a third sister ship next year that will continue to maintain our overall capacity in the marketplace."
Fly Intel: Top five analyst downgrades » 10:1107/1407/14/20
NFLX, SPOT, LYFT, MAN, CCL, CUK, RCL, NCLH
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying that the company's upcoming earnings should continue to highlight the "widespread benefit" of the COVID-19 environment in terms of its consumption habits and "strong" user growth dynamics, but he also sees the current stock price already reflecting "many of the long-term business moat dynamics such as sustained growth and steady margin expansion." 2. Spotify (SPOT) double downgraded to Sell from Buy at UBS with analyst Eric Sheridan saying the 47% run-up in the stock price over the past month is pricing in the "entirety of upside optionality" from growth in podcasting that the analyst modeled in the coming years, including subscriber and engagement growth, shift in engagement habits, and potential unit economics improvement. 3. Lyft (LYFT) downgraded to Neutral from Buy at Northcoast. 4. ManpowerGroup (MAN) downgraded to Sell from Neutral at Goldman Sachs with analyst George Tong saying business closures associated with the coronavirus coupled with manufacturing headwinds in Europe, where ManpowerGroup generates two-thirds of its revenue, will "meaningfully dampen" temporary staffing revenue over the next few quarters. 5. Carnival (CCL), Royal Caribbean (RCL), and Norwegian Cruise Line (NCLH) were downgraded to Neutral from Outperform at Macquarie. Carnival (CCL) was also downgraded to Sell from Hold at SunTrust. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.