Fly News Breaks for January 8, 2020
Jan 8, 2020 | 06:47 EDT
Nomura Instinet analyst Harry Curtis thinks Carnival over the coming weeks in its annual filing is likely to increase its fuel cost guidance and reduce its capacity outlook, lowering its Q1 and 2020 earnings outlook. Higher fuel costs are not reflected in consensus estimates and Carnival has no pricing power, Curtis tells investors in a research note. He believes the company's 2020 earnings are likely to contract and keeps a Neutral rating on the shares with a $45 price target.
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