Mizuho lowered the firm’s price target on Norwegian Cruise Line (NCLH) to $27 from $28 and keeps an Outperform rating on the shares. The firm says that despite a “precarious” geopolitical environment, it is constructive on the cruise industry. “Compressed valuations” in the group fully encompass the recent move higher in oil prices as well as some potential isolated demand impacts, the analyst tells investors in a research note. However, Mizuho thinks Street yield estimates may have risk.
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