Norwegian Cruise Line Holdings Ltd. (NCLH) saw a strong pre-market performance on October 9, 2024, after Citi upgraded its rating for the stock from Neutral to Buy. Citi set a price target of $30, reflecting optimism for the company’s future growth. In the pre-market session, NCLH’s stock price rose to $21.48, a 3.27% increase from its previous close of $20.80, bringing it closer to its 52-week high of $21.73.
Citi’s bullish outlook for Norwegian Cruise Line comes as part of a broader positive sentiment on the cruise industry. In its recent analysis, Citi highlighted the potential for significant growth in cruise stocks, projecting over 20% annual EPS growth for NCLH, Royal Caribbean (RCL), and Carnival (CCL) over the next three years. Citi expects NCLH to deliver a 23% three-year EPS compound annual growth rate (CAGR), thanks to a strategic shift aimed at leveraging pricing opportunities while managing costs effectively.
The market will closely monitor NCLH’s performance to see if the stock can maintain its momentum and reach the $30 price target, signaling confidence in the cruise industry’s long-term recovery and growth potential.
