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Why Carnival Corporation Stock Dropped Today

·2 min read
Why Carnival Corporation Stock Dropped Today
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Shares of Carnival (NYSE: CCL) (NYSE: CUK) fell 2% as of 1:39 a.m. EDT Monday after the cruise company got hit with a downgrade from analysts at Citigroup. Citi cut its rating on Carnival stock from buy to neutral and slashed its price target to $24.50. Citi's price target cut implies there's still about 12% upside in Carnival stock -- that's the good news.