MARKET TALK: S&P Equity Research Cuts Carnival Price Target

23rd Jun 2010 13:48

1248 GMT [Dow Jones] S&P Equity Research cuts Carnival (CCL.LN) price target to 2620p from 2740p on revised estimates. Notes the group's 2Q results once again demonstrated strong execution and cost control, enabling Carnival to beat both guidance and consensus at the EPS level. Nonetheless, thinks a muted 3Q outlook is likely to dampen optimism. Says market volatility, as seen in the past month, could pour cold water on both consumer optimism and discretionary spend. Keeps the stock at hold. Shares -0.7% at 2408p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 23, 2010 08:48 ET (12:48 GMT)