To Whom It May Concern:
We received this information/press release from the trades/Business
Wire/Carnival Cruise Line and thought it may be of interest to this
newsgroup as well.
Happy sailing...
John Sisker - SHIP-TO-SHORE CRUISE AGENCY (sm)
(714) 536-3850 or toll-free at (800) 724-6644 & (Agency ID: 714.536.3850)
www.shiptoshorecruise.com
Zacks Analyst Blog Highlights: UAL Corp., Carnival Corp., Carnival Plc,
Royal Caribbean Cruises Ltd. and Quicksilver Resources, Inc.
CHICAGO-- (BUSINESS WIRE) -- Zacks.com announces the list of stocks featured
in the Analyst Blog. Every day the Zacks Equity Research analysts discuss
the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include: UAL Corp. (Nasdaq: UAUA),
Carnival Corp. (NYSE: CCL), Carnival Plc (NYSE: CUK), Royal Caribbean
Cruises Ltd. (NYSE: RCL) and Quicksilver Resources, Inc. (NYSE: KWK).
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from the Pros newsletter: http://at.zacks.com/?id=4579.
Here are highlights from Friday's Analyst Blog:
United Feeling Downward Pressure
We are maintaining our Hold on UAL Corp., or United (Nasdaq: UAUA), as well
as our $10 target price as the industry is still hostage to oil prices since
fuel is the largest single expense category on the income statement and we
do not expect oil prices to drop significantly in the near term. UAL is
expected to report third quarter results in late October.
We are retaining our loss per share estimates at $12 for 2008 and $5 for
2009. Results should reflect moderate revenue growth, based upon higher
domestic airfares, reduced domestic capacity and an increased international
presence, offset by much higher fuel costs and larger materials, maintenance
and purchased services expense.
Carnival Just Cruising Along
We expect Carnival (NYSE: CCL) and Carnival Plc (NYSE: CUK) to continue to
trade at a premium to its largest competitor over the near-term. However,
given our expectation for continuing margin pressures, especially related to
significantly higher fuel expenses, we do not feel that material price
appreciation is warranted at this time. While the recent pullback in the
price of fuel should provide some relief, we note that costs remain
significantly higher on a year-over-year basis. We maintain our Hold rating
for Carnival.
Given the significant impact of fluctuating fuel expenses on the
bottom-line, we continue to believe that the implementation of a hedging
program would be viewed favorably by the Street. The added visibility
resulting from a hedging program would enable investors to focus more on
operating metrics under the company's control. While Carnival is trading at
13.5x estimated 2008 earnings, Royal Caribbean (NYSE: RCL) is currently
trading at 10.4x estimated 2008 EPS. Our six-month target price of $40 is
based on a multiple of 15.0x expected 2008 earnings.
Quicksilver Target Adjusted
We are maintaining our Buy recommendation on Quicksilver Resources, Inc.
(NYSE: KWK) but decreasing our target price to $40 from $42 per share. The
company's growth story remains strong and with the recent accretive Alliance
acquisition, the company looks to further increase its growth prospects in
the prolific Barnett Shale.
The Texas Barnett Shale play now represents over 5.5 Tcfe of low risk
reserve potential for KWK. The near 45% pullback since mid-July in the
company's stock price is near historically low levels from a valuation stand
point, further solidifies our recommendation.
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