Citi analyst James Hardiman reiterated a Buy rating and a $113.00 price target on Viking Holdings (NYSE: VIK).

Hardiman cited the company's recent quarterly performance and noted that water-level disruptions in early third quarter affected the outlook. "VIK delivered another stellar quarter, and in the absence of the water-level disruptions in early 3Q, 2027 was on pace to be an above-algo year," Hardiman said. "Even with these disruptions, we believe that 2027 yields will likely test the upper limits of the algo."

The analyst acknowledged that the 2027 headwind from future cruise credits is material but characterized the impact as likely overstated following a 7% decline in shares. "We see this as a buying opportunity, with investors looking for premium-focused stories during turbulent times," Hardiman added.

Shares of Viking Holdings closed at $90.77 prior to the note's publication.