BofA lowered the firm’s price target on Norwegian Cruise Line (NCLH) to $23 from $26 and keeps a Neutral rating on the shares. While earnings season to date in travel has been categorized by airlines withdrawing 2025 guidance, the firm expects cruise lines to be different as it expects management teams to remain constructive while acknowledging the macro uncertainty, the analyst tells investors in a preview had of Royal Caribbean (RCL) reporting this Tuesday and Norwegian on Wednesday. However, given the macro uncertainty, the firm lowered its target multiples for both ahead of the reports.
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