Lindblad Expeditions initiated with a Buy at B. Riley

B. Riley analyst Eric Wold initiated coverage of Lindblad Expeditions with a Buy rating and $12 price target. In an environment where travelers are increasingly gravitating toward adventure tourism and the company’s target demographic is projected to represent an increasing percentage of the U.S. population, Lindblad is well positioned to benefit from a recently expanded ship fleet and the acquisitions of multiple land-based tour operators that provide complementary travel offering, the analyst tells investors in a research note. The firm expects meaningful cash flow generation in the years ahead.