Carnival Corporation CCL shares are trading higher Wednesday, a slight rebound in price following a recent downtrend in the stock.
What To Know: Carnival stock is down 31.9% over the past three months. The underlying factor in the stock's decline has been attributed to the COVID wave over the past few months, leading to volatility in the sector.
More recently, shares sunk after the company reported third-quarter financial results and issued guidance on Sept 29. The stock continued to fall into Tuesday, on which Morgan Stanley analyst Jamie Rollo maintained Carnival with a Underweight and lowered the price target from $11.50 to $11.
However, shares of Carnival recovered by almost 4% on Wednesday.
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CCL Price Action: Shares of CCL were up 2.98% at $13.12 at the time of publication, according to Benzinga Pro.
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