UBS Downgrades Norwegian Cruise Line Holdings (NCLH) to Neutral

UBS analyst Robin Farley downgraded Norwegian Cruise Line Holdings (NYSE: NCLH) from Buy to Neutral with a price target of $19.00 (from $24.00).

The analyst comments "We are downgrading NCLH to Neutral from Buy following the stock s 30%+ move since Oct. while the S&P is up +10%, since we believe the risk/return is skewed less favorably now. While we believe the demand environment is improving, we do see some uncertainty in the outlook for NCLHs cost performance. Even if NCLH can do better than mid-teens growth in expense ex-fuel in 2023 compared to 2019, the +17% growth in capacity should be bringing better scale to bear, in our view. NCLH says the expense guidance is something they hope to beat but that investors should not necessarily expect that to mean upside to 2023 EBITDA guidance of $2B"

For an analyst ratings summary and ratings history on Norwegian Cruise Line Holdings click here. For more ratings news on Norwegian Cruise Line Holdings click here.

Shares of Norwegian Cruise Line Holdings closed at $15.35 yesterday.

You May Also Be Interested In

• Amer Sports Inc. (AS) PT Lowered to $42 at Truist, but 'Momentum continues to surge in a tough macro'
• American Healthcare REIT, Inc (AHR) PT Raised to $68 at KeyBanc
• Keysight Technologies (KEYS) PT Raised to $440 at UBS Amid Broad-Based AI Strength