Carnival’s recently released Q1 earnings included strong/improving booking/pricing commentary, assurances equity dilution is not on the table, and record customer deposit levels, Stifel analyst Steven Wieczynski says. However, despite these data points, shares are down 5%. The firm believes expectations going into these results "got a little out of hand" in terms of the company’s full year guidance, but believes the setup for Carnival’s shares is "overly compelling." Stifel reaffirms a Buy rating and $18 price target on the shares.
Published first on TheFly
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