A Morgan Stanley cruise sector survey detected weakening US demand and softer prices, leading an analyst to downgrade shares of industry giant Carnival.
Analyst Jamie Rollo, who covers leisure and hotel companies for the US investment bank, cut his rating of New York- and London-listed Carnival to “underweight” from “equal weight”, the equivalent of a downgrade to “sell” from “neutral”.
And he ratcheted down his share price target to $48 from $54, with the new outlook suggesting a 2.2%
