Norwegian Cruise Line price target lowered to $32 from $33 at Wells Fargo

Wells Fargo lowered the firm’s price target on Norwegian Cruise Line (NCLH) to $32 from $33 and keeps an Overweight rating on the shares. The firm notes management sees 2026 as a year to improve execution of commercial strategy and cross-functional alignment. Norwegian’s 40% increase in Caribbean capacity in Q1 called out as primary cause, while management remains committed to driving higher occupancy. Wells expects investors’ patience may be rewarded in the months/quarters to come.