Carnival initiated with "buy"

13.09.06 - Panmure Gordon & Co

LONDON, September 13 (newratings.com) - Analysts at Panmure Gordon & Co initiate coverage of Carnival PLC (CCL-GBX) with a "buy" rating. The target price is set to £29.

In a research note published this morning, the analysts mention that the company?s capacity growth is expected to accelerate to 8% during next year. The analysts believe that Carnival?s share price would rebound in the current year on account of abating concerns in the Middle East and weakening oil prices. The company is expected to witness EPS CAGR of 14% during 2006-2010, Panmure Gordon & Co adds.