Stifel keeps a Buy rating on Lindblad Expeditions (LIND) with a $15 price target after the company announced its partnership with National Geographic is going to be extended by 17 years to 2040. The new agreement not only extends the relationship between the two parties but expands the relationship as well, the analyst tells investors in a research note. The firm says Lindblad will now be able to sell its products and have access to Disney’s (DIS) sales channels and marketing tools. The current relationship revolved around just the National Geographic brands but under the new relationship, Lindblad has access to Disney, Disney +, Disney Cruise Lines and Disney Vacation Club, notes Stifel. The firm believes the new pact should significantly expand the company’s addressable market. Stifel says the news removes an overhang and that it expects Lindblad to start repurchasing shares. “It’s simple, this news is extremely positive,” the firm writes.
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