Norwegian Cruise Line stock swung higher early Tuesday after Goldman Sachs upgraded the shares based on expectations for 2025.
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Goldman Sachs in a research note Tuesday wrote it sees a solid 2025 for the leisure group with “another stellar year” for cruise lines, The Fly reported. The firm is bullish on Norwegian Cruise Line (NCLH), citing data that points to accelerating consumer intent to book cruises, as well as significant cost savings still to be realized. Goldman said this should provide upside to estimates and NCLH stock should begin to narrow its valuation gap to Royal Caribbean (RCL).
Goldman Sachs upgraded Norwegian Cruise Line to buy from neutral and raised its price target on shares to 35 from 29. It also hiked its price target for Royal Caribbean to 275, from 245.
Goldman lifted its price target on Carnival (CCL) to 32, from 24. Stifel also placed a 32 target on Carnival, up from 27.
For Norwegian, the upgrade marks its second price hike in about a week. Truist on Dec. 2 lifted its price target on NCLH stock to 35 from 25, writing that Norwegian is on track to at least meet the implied revenue forecast from its 2026 guidance.
Truist also lifted its targets for Royal Caribbean and Carnival, noting the outlook for future cruise bookings and pricing continues to be highly encouraging.
Norwegian Cruise Line Stock
NCLH stock climbed 3% premarket Tuesday. Shares are set to rebound above their 21-day moving average if the early move holds.
Norwegian Cruise has sailed about 30% higher in 2024.
Royal Caribbean added about 1% early Tuesday. RCL stock has rallied nearly 91% this year and is trading near record highs.
Carnival shares rose 1.5% Tuesday, adding to its 37% gain in 2024.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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