Norwegian Cruise Line price target raised to $21 from $19 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Norwegian Cruise Line to $21 from $19 and keeps a Neutral rating on the shares following the investor day. The company “did what it needed to do,” with long-term targets slightly ahead of consensus expectations and the 80 basis point raise to 2024 net yield guidance “putting to bed lingering fears around negative pricing” in Q4, the analyst tells investors in a research note. The firm’s higher estimates are primarily driven by increases to net yields as a result of both higher ticket and onboard spending given Norwegian’s greater confidence on the pricing and demand outlook for the next several years.