Carnival Analysts Cut Price Targets Ahead of Q3 Earnings

Carnival Corporation Ltd (NYSE: CCL ) came under pressure in early trading on Thursday, after climbing earlier in the week on lower crude oil prices. The company is scheduled to report its third-quarter results before the market opens on Tuesday, Sept. 29. Here are some key analyst takeaways: Bank of America Securities analyst Andrew Didora reiterated a Buy rating, while cutting the price target from $42 to $38.

JPMorgan analyst Matthew Boss maintained an Overweight rating, while lowering the price target from $43 to $39. Check out other analyst stock ratings. Bank of America Securities: Carnival’s stock has traded down 27% since August, with Brent oil having risen by more than 30% amid renewed Middle East tensions, Didora said in a note. While the company is the only unhedged cruise line and "remains uniquely exposed to higher fuel prices," this is likely to adversely impact its fourth-quarter earnings much more than its earnings in the third quarter, he added.

Although there are concerns around industry pricing with Norwegian Cruise Line Holdings Ltd (NYSE: NCLH ) altering its booking curve, "recent datapoints have been stable to positive," supported by improving cruise spend and recent cruise commentary suggesting resilient overall demand, the analyst stated. 35 per share, in line with the guidance. See More: Top Value Stocks JPMorgan: Recent meetings with Carnival’s management and industry fieldwork suggest that the company fundamentals remain intact, Boss said. 914 billion.

3% in constant-currency terms, in line with Street expectations. Fuel expense of $640 million, versus management’s guidance of $620 million. 369 billion, due to fuel cost headwinds. 6% in constant-currency terms, in line with Street expectations.

46 at the time of publication on Thursday. Read Also: Royal Caribbean Sets Sights on $2 Trillion Vacation Market With Sandals Investment