Norwegian Cruise Line upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Norwegian Cruise Line (NCLH) to Overweight from Equal Weight with a price target of $32, up from $28. In a re-accelerating macro environment with the potential to lengthen the current cycle, and all signs pointing to another strong year for cruise fundamentals, it “makes sense to look further out on the cruise risk spectrum,” the analyst tells investors in a research note. The firm says its pricing data shows the strongest lift in Europe and Alaska summer 2025 cruise prices for Norwegian versus the broader peer set. It also sees Norwegian’s multi-year cost savings program as an additional lever to grow earnings. Based on Barclays’ confidence in underlying demand, the shares offer a compelling entry point here, the analyst contends.