UPDATE: Lindblad Expeditions Holdings (LIND) PT Raised to $23 at Stifel

Stifel analyst Steven M. Wieczynski raised the price target on Lindblad Expeditions Holdings (NASDAQ: LIND) to $23.00 (from $22.00) while maintaining a Buy rating.

The analyst comments "LIND remains one of our top ideas heading into 2022. Demand for their maritime business should only accelerate from here as consumers get more clarity around additional itineraries and marketing channels open back up. We have increased our 2021-2023 EBITDA estimates based on stronger maritime demand/pricing metrics as well as healthier results from their land-based operations. We believe our revised estimates remain conservative and if the world returns to normal sooner rather than later, we would expect significant upside from here, especially around our 2022 EBITDA estimate. We believe it’s only a matter of time before the investment community takes notice of this story as it remains unknown in many investor circles and has materially lagged other consumer facing names. We still see considerable upside to shares with our revised $23 price target (~14.5x 23E EBITDA) showing almost 50% upside. We think current levels represent an attractive buying opportunity."

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