Norwegian Cruise Line Holdings Ltd NCLH is poised for an inflection with the lifting of most COVID-19 vaccination and testing rules, according to Truist Securities.
The Norwegian Cruise Line Analyst: Patrick Scholes upgraded Norwegian Cruise Line from Hold to Buy, while raising the price target from $18 to $19.
The Norwegian Cruise Line Takeaways: With the lifting of vax and testing rules, booking volumes in the first three weeks of August and the first week of September are 30% higher than the same periods in 2019, Scholes said in the upgrade note.
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“Additionally, we may have started to see the first signs of pricing power,” the analyst said.
Cancellations and subsequent re-bookings at lower prices, which had adversely impacted the industry, “have significantly decreased over the past six weeks,” he said.
“Importantly, the greatest degree of strength is with luxury cruises, to which NCLH has the greatest exposure,” Scholes said.
NCLH Price Action: Shares of Norwegian Cruise Line were trading 1.83% higher at $15.61 Tuesday morning.
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