The sole purpose of this post is to reiterate my opinion that Carnival should be bought. I first recommended the stock on June 11, and CCL just hit a 5 year high. Read that post here.
Before Tuesday's open, Carnival Corp. reported stellar earnings, earning $0.25 vs. the average estimate of $0.16. However, the company lowered their guidance, which made the stock close slightly lower on the day. This didn't scare Wedbush's James Hardiman, who on June 24th reiterated his $52 price target on the back of the big Q2 beat. If you read my previous post on the company, you know that I like Carnival's turnaround story - which is clearly beginning to bear fruits. I also like the chart technically. As shown below, after breaking out to the upside above resistance at $49.08, it retreated and found support at that same level. I think that the stock is mid-breakout, so there is still upside in this name. Perhaps just wait for a pullback.
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