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Carnival "Can" Says Analyst

July 16, 2009 By: David Eisen


A recession is not enough to put Carnival Corp. down for the count. In fact, the cruise company is doing surprisingly well despite a tough operating environment distinguished by lower pricing power and lack of demand.

However, analysts Wednesday praised Carnival for its resilience in the face of the recession and cited its "solid liquidity and strong balance sheet," according to The Associated Press.

Bernstein Research's Janet Brashear said the cruise operator has been "helped by its $4.8 billion of liquidity and the approximately $1.2 billion saved by suspending its dividend." (Carnival suspended its dividend last November.)

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Brashear said Carnival executives indicated that they may add two to three ships a year between 2012 and 2015. 

Goldman Sachs' cruise analyst Steven Kent, however, said he believes oversupply and a continued tough pricing environment would be long-term hindrances. 


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