0733 ET - Cruise stocks have come under pressure, weighed upon by higher fuel costs, rising interest rates and geopolitical uncertainty. Viking distinguishes itself from other major cruise lines, though, marketing its smaller ships, included excursions and emphasis on time ashore to an older, more affluent customer base, StoneX analyst Mike Hickey says in a note. The company's direct marketing capability gives it a way to reach prospective guests and stimulate bookings before relying on broad fare discounts. Looking ahead to next year, Hickey says Viking's current booked-rate strength should help support continued growth, even as the company faces headwinds. StoneX initiates coverage of Viking with a buy rating and a $99 price target. Viking is up 1% to $80.32 premarket.
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