Viking Holdings price target raised to $74 from $69 at Citi

Citi analyst James Hardiman raised the firm’s price target on Viking Holdings (VIK) to $74 from $69 and keeps a Buy rating on the shares following an “encouraging” Q3 report along with a “meaningful and largely-unexpected acceleration” in advance bookings. Though the firm notes that there “appears to be some concern over downward pressure from certain large legacy holders selling into strength,” it is “surprised” that shares have not rallied more meaningfully intraday. Citi’s raised target reflects a combination of raised estimates and a higher multiple, the analyst tells investors.