Morgan Stanley has decided to maintain its Underweight rating of Carnival (NYSE:CCL) and lower its price target from $13.00 to $7.00.
Shares of Carnival are trading down 14.21% over the last 24 hours, at $8.86 per share.
A move to $7.00 would account for a 21.01% decrease from the current share price.
About Carnival
Carnival is the largest global cruise company, with 91 ships in its fleet at the end of fiscal 2021, with all of its capacity set to be redeployed by summer 2022. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted about 13 million guests in 2019, prior to COVID-19.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
