Citi lowered the firm’s price target on Norwegian Cruise Line to $19 from $23 and keeps a Neutral rating on the shares. Citi’s most recent work on the cruise industry points to ongoing strength to begin the “all-important” Wave Season, which is January through March, albeit with pockets of sequential weakness, the analyst tells investors in a research note. The firm says that despite any volatility in the data, recent industry read-throughs continue to be “unanimously positive.” The cruise space remains the analyst’s favorite within the firm’s coverage universe in early 2024.
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