Norwegian Cruise Line (NCLH) Price Target Raised to $70.00 at Wells Fargo & Co

Norwegian Cruise Line (NASDAQ:NCLH) had its price target upped by investment analysts at Wells Fargo & Co from $68.00 to $70.00 in a research note issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price target suggests a potential upside of 21.55% from the company’s current price. The analysts noted that the move was a valuation call.

NCLH has been the topic of a number of other reports. Morgan Stanley set a $64.00 price objective on shares of Norwegian Cruise Line and gave the company a “buy” rating in a research note on Friday, February 22nd. Deutsche Bank reissued a “buy” rating and set a $65.00 target price on shares of Norwegian Cruise Line in a research report on Wednesday, January 16th. BidaskClub raised shares of Norwegian Cruise Line from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised shares of Norwegian Cruise Line from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Tuesday, February 26th. Finally, UBS Group increased their target price on shares of Norwegian Cruise Line from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $65.15.

NASDAQ NCLH opened at $57.59 on Friday. Norwegian Cruise Line has a 52-week low of $39.36 and a 52-week high of $59.71.

Norwegian Cruise Line (NASDAQ:NCLH) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.12. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. Norwegian Cruise Line’s revenue for the quarter was up 8.5% on a year-over-year basis.

In other Norwegian Cruise Line news, CEO Rio Frank J. Del sold 3,077 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $58.48, for a total value of $179,942.96. Following the completion of the transaction, the chief executive officer now owns 455,747 shares of the company’s stock, valued at $26,652,084.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rio Frank J. Del sold 10,656 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $54.86, for a total transaction of $584,588.16. Following the completion of the transaction, the chief executive officer now directly owns 484,117 shares of the company’s stock, valued at approximately $26,558,658.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,584 shares of company stock valued at $5,803,853. Corporate insiders own 0.98% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NCLH. Martingale Asset Management L P purchased a new position in shares of Norwegian Cruise Line in the third quarter worth $3,109,000. LPL Financial LLC purchased a new position in shares of Norwegian Cruise Line during the third quarter worth $278,000. Neuberger Berman Group LLC raised its holdings in shares of Norwegian Cruise Line by 39.6% during the third quarter. Neuberger Berman Group LLC now owns 436,637 shares of the company’s stock worth $25,076,000 after purchasing an additional 123,790 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Norwegian Cruise Line by 7.3% during the third quarter. Legal & General Group Plc now owns 931,439 shares of the company’s stock worth $53,493,000 after purchasing an additional 63,663 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Norwegian Cruise Line by 83.3% during the third quarter. Morgan Stanley now owns 466,649 shares of the company’s stock worth $26,799,000 after purchasing an additional 212,130 shares during the last quarter. 88.85% of the stock is owned by institutional investors and hedge funds.

About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd. (NCLH) is a global cruise company. The Company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. The Company had 25 ships with approximately 50,400 Berths, as of May 1, 2017. The Company’s brands offer itineraries to various destinations around the world, including Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, Caribbean, Alaska and Hawaii.

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