As previously reported, Northcoast analyst Drew May initiated coverage of Viking Holdings (VIK) with a Buy rating and $51 price target The firm views Viking in a different light from the “Big 3” cruise companies as it sees the company as more of a pure play on luxury travel and experiences, and finds it hard not to like the execution on display at Viking. While shares of Viking trade at a premium to its “Big 3” peers, Northcoast believes premium operators deserve premium multiples. When investors’ key area of focus is “what is the company going to do with all that cash?” rather than potential downside scenarios such is the case for Viking, the firm views this as a “happy problem.”
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Read More on VIK:
- Viking Holdings initiated with a Buy at Northcoast
- Viking Holdings price target lowered to $45 from $46 at Barclays
- Viking Holdings price target lowered to $51 from $55 at Melius Research
- Viking Holdings price target lowered to $48 from $54 at Citi
- Viking Holdings price target lowered to $47 from $49 at Morgan Stanley
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