Lindblad selloff creates ‘massive buying opportunity,’ says Stifel

Stifel analyst Steven Wieczynski lowered the firm’s price target on Lindblad Expeditions to $16 from $17 and keeps a Buy rating on the shares after the company’s initial 2023 EBITDA guidance was softer than consensus. The firm argues that "almost all" the downside relative to consensus is based on higher contribution from their land-based business and lower occupancies onboard their ships due to higher cancellations, but all it cares about is that "core business trends remain beyond healthy." The firm, which notes that its revised $16 price target now shows almost 100% upside, called the post-earnings selloff "a massive buying opportunity."