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Carnival (CCL) Stock Falls on Ratings Downgrade

NEW YORK (TheStreet) -- Shares of Carnival (CCL) were declining in pre-market trading on Friday after Morgan Stanley downgraded the stock to "underweight" from "equal weight."

The firm lowered its price target to $48 from $54 on shares of the Doral, FL-based cruise operator.

The ratings downgrade comes after a monthly survey signaled that cruise demand weakened in August as prices declined, Morgan Stanley wrote in a note cited by TheFly.

Separately...


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