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• CCL 67% Rate It

Cruise line operator Carnival Corporation ( CCL ) on Thursday received some further positive commentary from analysts at Nomura Securities.

The firm maintained its "Buy" rating and $36 price target for CCL, suggesting a 15% upside to the stock's Wednesday closing price of $31.25.

A Nomura analyst commented, "Sequential booking volumes (ex. Costa) improved since CCL reported earnings in early March. For the five weeks ended 4/1/2012, pricing was down 5% year-over-year, (ex Costa), but booking volumes rose 3%. This is in line with our outlook for a fleet-wide constant-dollar yield decline of 1.8% this year. Consumer demand should continue to increase over the next 12 months, driving better pricing and occupancy in 2013. CCL trades at 13.2x 2013E EPS, a 12% discount to our target multiple of 15x. At 15x 2013E EPS, the stock should trade at $36, 15% higher than the current level."

Carnival shares, which have fallen 4% year-to-date, posted small losses in premarket trading Thursday.

The Bottom Line
Shares of Carnival Corporation ( CCL ) have a 3.20% dividend yield, based on last night's closing stock price of $31.25. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

Carnival Corporation ( CCL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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