Why Carnival Shares Are Falling Today

Carnival Corp CCL shares are trading lower by 3.92% to $10.42. Wells Fargo maintained an Underweight rating on the stock and lowered its price target from $21 to $13. Stifel lowered its price target on the stock from $30 to $20.

Carnival shares traded higher during Friday's trading session after the company provided a second-quarter business update. Revenue increased by nearly 50% in Q2 of 2022 compared to the first-quarter 2022. Occupancy in second-quarter 2022 was 69%, an increase from 54% in the prior quarter.

Carnival is the largest global cruise company.

According to data from Benzinga Pro, Carnival has a 52-week high of $28.54 and a 52-week low of $8.70.