In a report released today, James Hardiman from Citi maintained a Buy rating on Norwegian Cruise Line, with a price target of $31.00.
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James Hardiman has given his Buy rating due to a combination of factors including Norwegian Cruise Line’s financial performance and future guidance. The company reported a third-quarter adjusted EBITDA that exceeded its guidance and matched consensus estimates, showing a significant improvement compared to the previous year. Additionally, the adjusted earnings per share surpassed both the company’s guidance and consensus expectations, indicating strong profitability.
Despite revenue falling slightly short of estimates, the company maintained its full-year adjusted EBITDA guidance and even increased its adjusted EPS guidance. Occupancy rates were better than expected, and the company showed a meaningful acceleration in net per-diem growth compared to the previous quarter. These positive indicators, coupled with a projected share price return of 39.8%, support the Buy rating assigned by James Hardiman.
Hardiman covers the Consumer Cyclical sector, focusing on stocks such as Camping World Holdings, Winnebago Industries, and Thor Industries. According to TipRanks, Hardiman has an average return of 6.8% and a 47.24% success rate on recommended stocks.
In another report released on October 26, Mizuho Securities also maintained a Buy rating on the stock with a $23.48 price target.