The firm downgraded its rating on Norwegian Cruise Line shares to neutral from positive.
It maintained its price target of $17, which implies 12.4% downside from Tuesday's close. The stock fell more than 3% Wednesday during premarket trading. Shares have jumped more than 58% in 2023 — but the rally is weak compared with peers Royal Caribbean and Carnival, which have surged 117.3% and 123.2%, respectively.
mountain Cruise company stocks in 2023 "Despite a constructive mid-term guide from NCLH , it's clear the liner is still in the early-to-middle innings of its turnaround, with the return to pre-pandemic adjusted EBITDA margins going to take 'some time,'" analyst Christopher Stathoulopoulos said in a Wednesday note.
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