Benchmark starts Lindblad Expeditions with a Buy on high growth visibility

As previously reported, Benchmark analyst Michael Albanese initiated coverage of Lindblad Expeditions (LIND) with a Buy rating and $18 price target citing high-visibility growth and expanding margins. Lindblad operates in a defensible niche within luxury adventure tourism, the fastest-growing segment of global travel, the analyst tells investors. Its expedition fleet and long-standing regulatory relationships create high barriers to entry, while industry-leading net yields, a mainly direct-to-consumer model, and exclusive regulatory access differentiate Lindblad from its mass-market peers, the analyst added.