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Benzinga
Benzinga
Business
Adam Eckert

Why Carnival Shares Are Sinking Today

Carnival Morgan Stanley Carnival Corp

Carnival Corp (NYSE:CCL) shares are trading lower Wednesday following bearish analyst coverage from Morgan Stanley. 

Morgan Stanley analyst Jamie Rollo maintained Carnival with an Underweight rating and slashed the price target to a Street-low $7 per share from $13 after trimming estimates for the year, citing weaker occupancies and pricing, as well as elevated costs. The analyst placed a bear case price target of $0 on the stock. 

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