Citi lowered the firm’s price target on Norwegian Cruise Line to $16 from $20 and keeps a Neutral rating on the shares ahead of the Q3 earnings report. While the company faces some incremental headwinds to end fiscal 2023, including higher fuel prices and unexpected itinerary impacts, most other data points point to ongoing strength in the industry, the analyst tells investors in a research note. The firm dropped fiscal 2024 and 2025 estimates due to higher fuel expense assumptions.
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