Viking Holdings upgraded to Buy from Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded Viking Holdings (VIK) to Buy from Neutral with a price target of $95, up from $72, offering 23% potential upside to the current share price. The firm says its work indicates further upside in the shares. On normalized free cash flow, Viking’s multiple is close to those of Norwegian and Carnival and at a significant discount to that of Royal Caribbean, the analyst tells investors in a research note. Rothschild sees Viking benefitting from “healthy secular demand drivers, best-in-class revenue visibility and strong cash generation.”