Royal Caribbean Cruises RCL and Norwegian Cruise Line NCLH shares were trading lower on Wednesday after a sell-side downgrade.
Barclays downgraded Norwegian Cruise Line’s stock from Overweight to Equal-Weight.
Barclays downgraded Royal Caribbean Cruises from Overweight to Equal-Weight and lowered its price target from $55 to $50.
Cruise liners have been hit hard by the coronavirus pandemic.
The Cruise Lines International Association issued a statement last week announcing that its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15.
Royal Caribbean Cruises shares were trading down 12.75% at $47.43 at the time of publication Wednesday. The stock has a 52-week high of $135.32 and a 52-week low of $19.25.
Norwegian Cruise Line shares were trading down 13.55% at $15.60. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.
Related Links:
Here's How Long Carnival, Norwegian And Royal Caribbean Can Last Without Revenue
Carnival Shares Plunge Further As Cruise Line Guides To 2020 Loss, Announces Common Stock Offering
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