Nomura Instinet thinks Carnival (CCL -1.5%) could post Q4 and 2020 guidance below consensus expectations due to higher fuel costs and limited yield growth upside.
"8% EPS growth next year will probably be in line with the S&P but lower than RCL and NCLH. Over time, CCL’s issues are fixable, but require tough decisions," updates analyst Harry Curtis.
Nomura has a Neutral rating on Carnival and price target of $52 vs. the sell-side average rating of Outperform and price target of $56.05.
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