Stifel Starts Viking (VIK) at Buy

Stifel analyst Steven Wieczynski initiates coverage on Viking (NYSE: VIK) with a Buy rating and a price target of $37.00.

The analyst comments: "We are initiating coverage of Viking Holdings Ltd. (VIK) with a Buy rating and establishing a $37 target price (12x 2026E EBITDA). VIK, in our opinion, is the ultimate growth story within the luxury/travel/cruise segment as we estimate VIK will grow EBITDA, on average, around 17% for the next three years. This growth coupled with what we view as the preeminent balance sheet across the industry warrants a higher multiple than cruise “peers”, even RCL. We believe the river/luxury/expedition cruise segments will grow significantly in the years ahead given an aging population that should continue accumulating wealth/free time while also seeking unique, once in a lifetime, type vacations. We believe VIK’s significant capacity growth, unique sourcing strategies, distinctive “Southwest” model, and best-in-class balance sheet should help generate an attractive return profile for investors that have historically shied away from the cruise industry."

For an analyst ratings summary and ratings history on Viking click here. For more ratings news on Viking click here.

Shares of Viking closed at $29.68 yesterday.

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