B. Riley analyst Eric Wold raised the firm’s price target on Lindblad Expeditions to $14 from $12 and keeps a Buy rating on the shares after meeting with management. The firm came away increasingly comfortable with its views on expedition demand trends in Q4 and heading into 2024. The analyst says the stock’s current valuation is still more reflective of near-term macroeconomic concerns versus the meaningful benefit that should come from the upgraded NatGeo and Disney relationship.
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