Viking Holdings Ltd, the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Stephen Grambling from Morgan Stanley maintained a Buy rating on the stock and has a $70.00 price target.
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Stephen Grambling has given his Buy rating due to a combination of factors that highlight Viking Holdings Ltd’s strong performance and potential for growth. The company has demonstrated resilience by surpassing expectations in the third quarter, showing sequential improvement in forward booking prices. This positive trend in bookings has prompted a modest upward revision in earnings estimates, despite some offsetting costs such as stock-based compensation.
Furthermore, Viking Holdings Ltd’s valuation remains appealing, especially when considering its growth profile. The company’s shares have outperformed its peers in the cruise sector, maintaining a premium due to stronger fundamentals. Additionally, the potential for deploying excess cash serves as a catalyst for further growth. With a price target set at $70, reflecting a 15% upside, Grambling’s analysis suggests that Viking Holdings Ltd is well-positioned for continued success.
According to TipRanks, Grambling is a 4-star analyst with an average return of 5.8% and a 60.32% success rate. Grambling covers the Consumer Cyclical sector, focusing on stocks such as Norwegian Cruise Line, Viking Holdings Ltd, and Harley-Davidson.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $74.00 price target.