Carnival (CCL) Stock Gets Price Target, Estimates Hike at Credit Suisse

NEW YORK (TheStreet) -- Analysts at Credit Suisse raised their price target on Carnival Corp. (CCL) to $58 from $55 on Wednesday morning. The firm also upped its estimates on the cruise operator to $3.38 per share from $3.20 per share for fiscal 2016.

For fiscal 2017 Credit Suisse raised its estimate to $3.91 per share from $3.73 per share.

The firm said it increased its numbers on Carnival given the company's better execution and pricing. Credit Suisse maintained its "outperform" rating on Carnival stock.

Shares of Carnival are up by 2.45% to $50.69 on Wednesday morning.

"A New and Improved Carnival: Two years into the job, we think [CEO] Arnold Donald has proven he can make considerable changes to the organization and that the turnaround is firing on all cylinders. In our view, the Carnival and Costa brands have improved considerably, while announcements such as Fathom and LNG powered ships highlight that the company is thinking outside of the box," Credit Suisse said in an analyst note.

"Over the next few years, we think CCL will continue to create shareholder value through initiatives such as improving its dynamic pricing system and promoting regional price coordination between its brands," the note continued.

Separately, TheStreet Ratings team rates CARNIVAL CORP/PLC (USA) as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CARNIVAL CORP/PLC (USA) (CCL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."

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