Carnival Stock Could Fall to $0 in a Worst Case Scenario, Analyst Says

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Updated June 29, 2022 10:09 am ET / Original June 29, 2022 8:01 am ET

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Carnival stock was tumbling Wednesday after Morgan Stanley cut its price target to a Wall Street-low, saying it sees the case for a stock wipeout.

Morgan Stanley analysts slashed their base case price target to $7, according to Bloomberg, and maintained an Underweight rating on the stock. In a worst, or “bear case” scenario, Carnival’s (ticker: CCL ) price could reach zero, they added.

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