Broker tips: Carnival, BAE Systems, Euromoney

Cruise operator Carnival's full-year results released on Thursday could be an 'inflection point for sentiment', according to analysts at Numis Securities. Nevertheless, the broker has left its 'hold' rating and 2,250p target price in place."The key messages from yesterday's FY13 results for Carnival, in our view, were that: perception of the Carnival brands is recovering more quickly than expected; recent booking patterns have been encouraging with Q4 yields ahead of expectations; and costs are being tightly managed with guidance for FY14 much improved," Numis said.UBS has lowered its target price for defence group BAE Systems from 490p to 475p after the United Arab Emirates (UAE) withdrew its interest in buying 60 Eurofighter Typhoon jet fighters."We previously estimated the value to BAE Systems was 30p in net present value terms, to which we had allocated a probability (win) of 50% - as a result we are reducing our price target by 15p to 475p." However, the bank maintained its 'buy' rating for the stock.Westhouse Securities has downgraded its rating for magazine publisher Euromoney Institutional Investor from 'neutral' to 'sell', saying that the stock's valuation is looking stretched.The broker explained that the share price has increased by 12% since it last updated its forecasts and increased its target price to 1,110p in the aftermath of last month's full-year results. It said that the report was accompanied by an "encouraging rather than spectacular update which prompted a marginal uplift in consensus (we left our forecasts unchanged) and when coupled with relatively modest medium-term growth prospects [...] did not suggest scope for a significant re-rating".BC BAE Systems