Will Norwegian Cruise Line Be a $26 Stock?
At least one Wall Street pro thinks the sell-off in Norwegian Cruise Line (NYSE: NCLH) stock has gone too far. James Hardiman, an analyst at Wedbush Securities recently attached a $26 per share price target on the battered cruise ship stock, which equates to more than a 100% return from the current level.
Norwegian just reported first-quarter earnings results that showed a significant strain on its business as it operates under a complete "no-sail" order from regulatory bodies including the CDC. Revenue fell 11% in the period, which included just over two weeks of cruise cancellations through late March. The company took several significant writedown charges related to COVID-19 that added up to a $1.6 billion one-time impairment.
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Source Fool.com
