It’s been smooth sailing for cruise stocks.
Look at Royal Caribbean (RCL) and Carnival (CCL), for example. Both have been soaring on demand. And while both could see near-term healthy profit taking, both could rally even higher over the long-term. Even Norwegian Cruise Line (NCLH) has been explosive – especially with Goldman Sachs upgrading NCLH this morning.
According to CNBC, “Analyst Lizzie Dove upgraded the stock to buy from neutral. She also raised her price target to $35 from $29. We believe it is a better business today and warrants a higher multiple to begin to close the gap to RCL.” She added that demand also remains higher than supply, which has given cruise companies pricing power.
Analysts at Truist, Bank of America, Morgan Stanley, UBS and Tigress Financial also raised their price targets on NCLH over the last few weeks. In fact, according to Bank of America raised its price target by $3 to $29 a share. Morgan Stanley raised its price target to $26 from $19.
igress Financial raised its price target on NCLH to $36 with a strong buy rating. The firm added, “We reiterate our Strong Buy rating and increase our 12-month target price to $36 as NCLH continues to experience strong cruise demand and pricing power combined with its industry-leading fleet expansion and as NCLH and the cruise industry continue to experience increasing market penetration in the over $2 trillion vacation market.”
Sincerely,
Ian Cooper
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