Viking Holdings upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Stephen Grambling upgraded Viking Holdings (VIK) to Overweight from Equal Weight with a price target of $49, up from $37. The shares have rallied recently but lagged peers, resulting in a more attractive relative valuation, the analyst tells investors in a research note. The firm sees strengthening demand for the company, improving gross margins and commencing capital return. Despite a recent rally following stronger peer results and the outcome of the U.S. election, Viking Holdings has lagged core cruise peers the last three months, the analyst tells investors in a research note.