On July 9, Norwegian Cruise Line rose 5.06% in regular trading, trading at $19.40/share, with turnover of $60.52 million. The stock rebounded sharply after the previous session's broad selloff across travel and cruise names.
On the news front, Morgan Stanley issued a research note stating that Norwegian Cruise Line is expected to post a modest Q2 EBITDA beat, supported by lower fuel costs and resilient demand. However, the bank noted that investors will likely focus on softer Q3 net yield guidance due to weaker demand for European itineraries. Separately, BMO Capital initiated coverage on the stock with a Market Perform rating and a $21 price target, above the current trading level. The consensus mean price target stands at $21.42 with an average overweight rating.
Within the Hotels, Resorts and Cruise Lines sector, cruise stocks broadly recovered: Carnival rose 3.78%, Royal Caribbean Cruises gained 2.73%, while Booking Holdings dipped 0.74% and Marriott fell 0.29%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
