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Why Carnival Stock Dropped Today

Cruise leader Carnival  (NYSE: CCL) saw its stock fall 4.1% by 11:45 a.m. EDT on Thursday following a price-target cut on the shares this morning by Truist Financial. In a note out this morning on TheFly.com, Truist cut its price target on Carnival stock by 15%, to $17. After conversations with executives at large travel agencies and analyzing reported future bookings and pricing, according to the note, Truist concluded that Carnival is now looking at weak demand in the first half of this year.

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