Deutsche Bank Starts Lindblad Expeditions Holdings (LIND) at Hold
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Deutsche Bank initiated coverage on Lindblad Expeditions Holdings (NASDAQ: LIND) with a Hold rating and a price target of $9.50.
Analyst Chris Woronka said, "We view LIND as a highly differentiated story within the broader leisure/cruise space. We expect the company to benefit from growth in the affluent traveler segment given its focus on trips to unique and exotic locales where the focus is on the destination and voyage itself, as opposed to simply the on-board experience. At present, however, the company's trading liquidity and overall size ($45m of EBITDA in 2016E), as well as its heavy insider ownership (~50% of total), likely make it difficult for many would-be investors to take a position of adequate size. Over time, as LIND expands, these issues could become less onerous. As such, we are initiating coverage with a Hold rating and $9.50 PT."
Shares of Lindblad Expeditions Holdings closed at $9.47 yesterday.
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