Broker snap: Get on board Carnival

22nd Sep 2009 12:45

Bank of America Merrill Lynch has added Carnival to its 'Europe 1' list of preferred stocks ahead of the cruise ship operator's third quarter results due out Tuesday afternoon.The cruise company has been hard hit by various issues such as the credit crunch and swine flu in the last couple of years but Merrill Lynch sees 'significant opportunities for net revenue yield improvement from current depressed levels.'The broker believes the company's shares offer 'an attractively priced way of playing a U.S.-led consumer recovery' and has set a price target of £23.90 for the shares.