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Carnival Stock Slumps as Morgan Stanley Contemplates Dire Bear Case

Carnival stock was tumbling in premarket trading 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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