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Fly News Breaks for October 7, 2019
CCL
Oct 7, 2019 | 06:28 EDT
HSBC analyst Ali Naqvi downgraded Carnival to Hold from Buy with a price target of $43, down from $68. The analyst reduced his target multiple for the shares to 10-times from 15-times to reflect Carnival's lower yield growth outlook, weak booking commentary and increasing capacity growth relative to peers. Wider macro uncertainty and increasing market supply warrant the discount, Naqvi tells investors in a research note.
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