1 Wall Street Firm Thinks Norwegian Cruise Line Stock Is Going to $24. Is It a Buy?
Analysts at one Wall Street firm think investors could book some big profits by investing in Norwegian Cruise Line (NYSE: NCLH) stock right now. In a new research report, Mizuho Securities analysts Ben Chaiken and Alok Patel upgraded their firm's rating on the cruise operator from neutral to buy. They also boosted their share price target from $21 to $24 -- around 45% higher than its recent price. The analysts wrote that they see overall market sentiment shifting for the stock, and provided three main reasons for their optimistic view.
The analysts noted that Norwegian stock has had relatively high short interest during the last two years. Pressure from short-sellers has been decreasing, however. That trend, combined with company-specific initiatives, gave them confidence that the stock is due to move higher after its drop of nearly 20% year to date.
Source Fool.com
