Norwegian Cruise Line initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Norwegian Cruise Line with a Neutral rating and $19 price target. The improvements in cruise pricing has been driven by sustainable, structural changes in industry practices and ongoing incremental pricing tailwinds rather than pent-up consumer demand, the analyst tells investors in a research note. The firm says that while Norwegian has made “strong headway” in the past year, it remains on the sidelines, believing the company’s 2024 guidance factors in relatively little conservativism. Goldman also views Norwegian’s ongoing cost efficiencies as a “show-me” story.