Cruise companies continue to fall on Wall Street in the wake of a downgraded recommendation on Carnival Corp. 

Cruise companies Carnival Corp, Royal Caribbean Cruises and Norwegian Cruise Line continue to fall after a little more than half of the trading day. Carnival Corp is the worst performer, falling more than 14 percent in the wake of a downgraded recommendation from Morgan Stanley. The investment bank lowered its target price to 7 from previously 13 dollars per share. 

Royal Caribbean Cruises is down 10.5 percent while Norwegian Cruise Line is down 10.6 percent at the time of writing. Lindblad Expeditions is also down 15 percent. 

Investment bank Morgan Stanley wrote in connection with the lowered target price for Carnival Corp that another major disruption in demand could lower the target price to $0, given Carnival Corp's debt level, writes CNBC.

Source: DI.SE