Wedbush Downgrades Norwegian Cruise Line Holdings (NCLH) to Neutral
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Wedbush downgraded Norwegian Cruise Line Holdings (NASDAQ: NCLH) from Outperform to Neutral with a price target of $45.00 (from $53.00).
Analyst James Hardiman commented, "The recent trend in our proprietary pricing analysis has been a decidedly negative one, precipitating our downgrade to NEUTRAL for NCLH (as well as an estimate reduction for RCL published separately today). While the reasons for, and, by extension, the duration of this weakness remain somewhat murky, it is difficult to ignore the current trends not only impacting the European cruise market but also the Caribbean market, previously the model of stability. While valuations seem to already be discounting incremental weakness, and while we would hope that pricing trends improve as we move past the election, recent terror attacks, and Zika, investors should be prepared to see headlines get worse before they get better."
Shares of Norwegian Cruise Line Holdings closed at $37.79 yesterday.
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