Norwegian Cruise Line price target lowered to $25 from $27 at Morgan Stanley

Morgan Stanley analyst Stephen Grambling lowered the firm’s price target on Norwegian Cruise Line (NCLH) to $25 from $27 and keeps an Equal Weight rating on the shares. Q3 results were largely in-line with the firm’s preview, but the stock moved sharply lower as weaker per diems amplified the debate over “normalization” versus “deterioration” in cruise pricing power after years of strength, says the analyst, who lowered the firm’s FY25-27 EBITDA estimates about 1% following the report.