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Norwegian Cruise Line initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Norwegian Cruise Line (NCLH) with a Buy rating and $31 price target The firm views the cruise lines are “underappreciated” share gainers in the travel space. The cruise names offer a strong value proposition which will drive long-term share gains, the analyst tells investors in a research note. TD estimates annual revenue growth of 7% for the industry through 2029. It says Norwegian is a premium cruise line trading at an airline valuation multiple.

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