Carnival Downgraded on Weaker Cruise Demand

Shares of Carnival (CCL) - Get Report were lower Friday after Morgan Stanley downgraded the stock to UNDERWEIGHT from EQUAL WEIGHT. The firm also lowered its price target to $48 from $54. Analysts with Morgan Stanley said in a research note today that the downgrade comes after a monthly survey signaled that cruise demand weakened in August as prices declined.

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