Goldman Sachs Removes CCL From CL-Buy List

Goldman Sachs has removed Carnival Corporation CCL from Americas Conviction Buy List. In the report Goldman Sachs writes, "We are removing CCL from the Conviction List but maintaining our BUY rating. The stock has traded down 14% over the past 4 weeks as oil prices have surged 19%. We have wrestled with the designation of CCL as our “favorite name” especially as the impact of exogenous variables (fuel, currency and geopolitical events) have risen and reduced our ability to truly have “conviction” in our call. Since adding to the Conviction Buy List on 01/12/2011, the stock is down 17.2% vs. the S&P 500 up 0.6%. Over the last 12 months, the shares are up 3.3% vs. the S&P 500 up 11.0%." CCL still has a Buy Rating and a $51 PT. CCL traded for $39.16 at closing yesterday.