Susquehanna starts Viking at Positive on ‘defensive and growing’ market

Susquehanna analyst Christopher Stathoulopoulos initiated coverage of Viking Holdings (VIK) with a Positive rating and $100 price target The firm says Viking is a “pure-play” luxury cruise line with a “defensive and growing” addressable market, industry-leading return on invested capital, and a path toward a net cash position. The company’s “anti-cruise” model and singular brand approach “supports solid performance within net yields and margins,” the analyst tells investors in a research note. With access to more than 100 priority docking stations across Europe, Viking will benefit from long-term growth in the European river and luxury ocean markets, contends Susquehanna.