Redburn-Atlantic Starts Viking Holdings (VIK) at Neutral

Redburn-Atlantic analyst Alex Brignall initiates coverage on Viking Holdings (NYSE: VIK) with a Neutral rating and a price target of $29.00.

The analyst comments: "Founded in 1997 – much later than its ocean peers – Viking has grown very successfully to enter the market as a small, but perfectly formed, cruise line. It offers best-in-class growth, supported by favourable demographics and an impressive order book, while having a superior – and defendable – returns profile. It stands to benefit from the relative resilience of high-end demand, while its long booking window offers visibility and a competitive advantage when ordering new ships. Viking trades at a premium to peers, but this will narrow in outer years due to better profit growth and impressive cash conversion. We launch coverage with a Neutral rating and a $29 price target, versus the listing price of $24 and today’s price of $29. We would see any share price weakness as a potential entry point."

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

Shares of Viking Holdings closed at $29.68 yesterday.

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