Wells Fargo analyst Daniel Politzer downgraded Norwegian Cruise Line (NCLH) to Equal Weight from Overweight with an unchanged price target of $18. The firm sees more upside in Carnival (CCL) than Norwegian Cruise Line at current prices and thinks Carnival’s higher FY24 EBITDA growth will allow it to deliver more quickly than Norwegian, the analyst tells investors in a research note. While the stock has bounced off its 4Q23 lows, risk/reward is even here, the firm adds.
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