I suspect that CCL, like BKL, will start to move down further - who knows how far. Both stocks had downgrades and highly challenging competitors but the giveaway is their high p/es.
CCL must reach a point where its p/e adjusts downwards. It can't expect to be on a p/e over 20 plus be announcing multiple downgrades!
The 'growth' argument for the p/e to be higher is restricted by the competitive challenges in the company's major, mature Australian market.
CCL Price at posting:
$11.77 Sentiment: Hold Disclosure: Not Held
