Carnival "buy"

20.06.06 - Dresdner Kleinwort Wasser.

LONODN, June 20 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on Carnival (CCL-GBX). The target price is set to 2800p.

In a research note published this morning, the analysts mention that although the company posted its Q2 EBIT in-line with the estimates, its earnings were marginally ahead of the estimates due to a low tax credit and interest expenses. Concerns surrounding pricing pressure in the Caribbean being structural in nature are expected to exert pressure on Carnival's share price going forward, the analysts say.