Stifel raised the firm’s price target on Norwegian Cruise Line (NCLH) to $37 from $35 and keeps a Buy rating on the shares. While the firm isn’t arguing that Norwegian should trade in line with Royal Caribbean (RCL) for several reasons, it does believe a 50% discount is “extreme” and believes there are multiple catalysts on the horizon that should allow shares to materially appreciate and close the significant valuation gap, the analyst tells investors. Stifel, which calls Norwegian “the best way to play the continued growth/outperformance across the cruise industry,” has raised its 2026 and 2027 EPS estimates based on recent accretive capital market transactions.
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