Viking Holdings price target raised to $51 from $40 at BofA

BofA raised the firm’s price target on Viking Holdings (VIK) to $51 from $40 and keeps a Buy rating on the shares. For Q3, the firm notes that its EBITDA forecast of $487M is lower than the Street’s $518M, with higher costs the key variable after management noted a shift in expense timing back in August, but its better cost view in Q4 results in full year EBITDA of nearly $1.3B, which is largely in line with the Street, the analyst tells investors in a preview. The firm sees “many reasons” for Viking to trade at a premium to other cruise lines, including its high-end business model, superior ROIC, industry leading unit economics, favorable net leverage and stronger growth profile, the analyst added.