How Low Will Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Go?

Cruise line stocks have come a long way since bottoming out in mid-March. Shares of Carnival (NYSE: CCL) (NYSE: CUK) and Norwegian Cruise Line Holdings (NYSE: NCLH) have more than doubled, and Royal Caribbean (NYSE: RCL) is leading the pack, more than tripling as of Wednesday's close.

Have the country's three largest cruise line stocks risen too high, too soon? One analyst seems to think so. Jamie Rollo at Morgan Stanley is downgrading shares of Norwegian Cruise Line this week. He's also reinstating coverage of Royal Caribbean and Carnival. All three stocks were tagged with a bearish underweight rating on Wednesday morning, but even that wasn't enough to send investors scurrying for the gangway. All three stocks moved higher on Wednesday.

Image source: Royal Caribbean.

Source Fool.com