UPDATE: JP Morgan Initiates Norwegian Cruise Line at Overweight on Nimbler Fleet

JP Morgan initiated Norwegian Cruise Line

with an Overweight rating and a $36.00 price target. JP Morgan noted, "In our view, Norwegian is a true growth story – we believe the company's differentiated “freestyle cruise” model will drive outsized ticket and onboard yield performance through 2015 … We believe the new additions to the company's smaller fleet, relative to the competition, provide investors with a blueprint for a strong, upward trajectory for future revenue, EBITDA and EPS growth. While the industry is not immune to headline-catching events and potential shocks to demand, we believe Norwegian is a beacon for investors that want exposure to a high-growth story with high operating leverage in leisure-land." Norwegian Cruise Line closed at $30.21 on Tuesday.