Norwegian Cruise Line price target raised to $21 from $20 at Wells Fargo

Wells Fargo raised the firm’s price target on Norwegian Cruise Line to $21 from $20 and keeps an Equal Weight rating on the shares. The firm notes Norwegian Cruise Line adjusted EBITDA of $588M was better than expected, and the company raised FY24 EBITDA to $2.35B. Despite some puts/takes, overall demand appears stable and management is executing well, especially on costs, Wells adds.