Norwegian Cruise Line price target lowered to $20 from $21 at Susquehanna

Susquehanna lowered the firm’s price target on Norwegian Cruise Line (NCLH) to $20 from $21 and keeps a Neutral rating on the shares. The firm said they are encouraged by new CEO John Chidsey’s willingness to acknowledge the execution flaws at the company, with his initial three-part plan (fixing execution and driving accountability and urgency, improving efficiency and ROIC, and unlocking upside within RM) strategically sound. That said, building the right culture takes time, with employee buy-in and willingness to synergistically execute across the entire organization typically measured in years.