Norwegian Cruise (NCLH) PT Lowered to $16 at Jefferies

Jefferies analyst David Katz lowered the price target on Norwegian Cruise (NYSE: NCLH) to $16.00 (from $18.00) while maintaining a Hold rating.

The analyst comments "While a FY26 guidance cut was expected, the magnitude exceeded our and the Street's expectations. However, we view this as a potential near-term clearing event, with the bar now reset for execution. Management’s focus on rebuilding Occupancy is appropriate but could pressure pricing near term, while SG&A reductions should benefit 2H26–FY27. Given guidance for leverage remaining >5.0x through YE26, our view remains conservative. Reiterate Hold."

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