Norwegian Cruise Line's Strong Q2 Growth Not Enough For Recovery: Analyst Downgrades To Neutral
Portfolio Pulse from Lekha Gupta
Susquehanna analyst Christopher N. Stathoulopoulos downgraded Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) to Neutral from Positive at a price target of $17 following Q2 FY23 results. Despite reporting strong Q2 sales growth and beating analyst consensus, the company's adjusted EBITDA is expected to take some time to return to pre-pandemic levels. Barclays also lowered the price target to $21 from $22, maintaining an Equal-Weight rating.
August 04, 2023 | 11:54 am
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Norwegian Cruise Line was downgraded by Susquehanna due to concerns about the time it will take for the company's adjusted EBITDA to return to pre-pandemic levels. Barclays also lowered its price target.
The downgrade by Susquehanna and the lowering of the price target by Barclays indicate a less optimistic outlook for Norwegian Cruise Line. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100