Morgan Stanley analyst Stephen Grambling raised the firm’s price target on Norwegian Cruise Line (NCLH) to $19 from $17.50 and keeps an Underweight rating on the shares. Ahead of Norwegian’s report on Thursday and on the heels of results from peers Royal Caribbean (RCL) and Carnival (CCL), the firm anticipates a report “largely mirroring” peers, meaning strength in Q3, potential for disruption in Q4, but positive 2025 booking commentary, the analyst tells investors in a preview. However, the firm cites valuation that is back to a premium and an analysis on costs that surfaces “only modest cost-outs” for its Underweight rating.
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