Argus analyst John Staszak downgraded Carnival to Hold from Buy without a price target. The company’s prospects have “deteriorated” given the slow recovery from the omicron surge and rapidly rising fuel costs, Staszak tells investors in a research note. The analyst also expects Carnival’s debt and interest expense to increase due to higher capital spending. He lowered his fiscal 2022 earnings per share estimate to (8c) from 86c per fiscal 2023 estimate to $1.00 from $1.20. Carnival is fully valued at current share levels, contends Staszak.
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