This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Shares regaining poise after broker Morgan Stanley (5 Jun) cut its profit forecasts. Potential for rally back to recent highs. Shares rallied from April lows helped by updated cash generation guidance, dividend increase and re-authorisation of $1bn share buyback. Lower oil prices reduces Cruise fuel costs. Decent 3% dividend yield.
Broker consensus is bullish with 67% of analysts saying Buy and none saying Sell. The average broker 2-month target price suggests 18% upside, well beyond our short-term trade objective of revisiting 7-month falling highs.
Next Event: Q2 Results: Late June (date to be confirmed)
Latest Broker 12-Month Consensus: 67% Buy, 33% Hold, 0% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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