Morgan Stanley Cuts Norwegian Cruise Line Price Target On Weak Q2 Earnings

Morgan Stanley Cuts Norwegian Cruise Line Price Target On Weak Q2 Earnings
  • Morgan Stanley analyst Thomas Allen reiterated an equal-weight rating on Norwegian Cruise Line Holdings Ltd NCLH and lowered the price target to $13 from $14.
  • The analyst lowered the price target after Norwegian reported worse-than-expected financial results and issued guidance below analyst estimates.
  • Allen added that the possible weakening of consumer spending, high European exposure in Summer, elevated oil prices, and COVID-19 resurgence are the risks to the company’s performance.
  • However, the analyst finds Norwegian Cruise to be better positioned than its peers due to high-end and Alaska exposure.
  • Price Action: NCLH shares closed higher by 3.05% at $14.18 on Friday.

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