In a report released yesterday, Stephen Grambling from Morgan Stanley maintained a Buy rating on Viking Holdings Ltd, with a price target of $70.00.
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Stephen Grambling has given his Buy rating due to a combination of factors that suggest Viking Holdings Ltd is well-positioned for future growth. The company is expected to slightly surpass third-quarter revenue expectations, with projected gross revenues of $2.02 billion, which is above the consensus estimate. This positive outlook is supported by strong demand in the luxury and higher-end segments, which have shown resilience compared to peers.
Additionally, Viking Holdings Ltd is anticipated to maintain a stable forward booking curve, with a focus on high-end itineraries and a strategic shift away from the Caribbean, which could buffer the company against broader industry challenges. The company’s shares have demonstrated greater resilience than its competitors, maintaining a premium valuation. This resilience, combined with a focus on capital return and industry-leading leverage levels, supports the Buy rating.