Royal Caribbean shares are trading lower after Morgan Stanley lowered its price target on the stock from $100 to $95. Stocks across sectors are also lower amid rising Treasury yields.
Portfolio Pulse from Bill Haddad
Morgan Stanley has lowered its price target on Royal Caribbean from $100 to $95. This news, along with rising Treasury yields, has led to a decrease in Royal Caribbean's stock price.
October 03, 2023 | 6:23 pm
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Royal Caribbean's stock price has dropped following Morgan Stanley's decision to lower its price target on the company's stock from $100 to $95.
Morgan Stanley's decision to lower its price target on Royal Caribbean's stock indicates a less optimistic outlook for the company, which can lead to a decrease in the stock's price. Additionally, rising Treasury yields can also put downward pressure on stock prices as they make bonds more attractive relative to stocks.
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