Norwegian Cruise Line (NYSE:NCLH) Stock

Norwegian Cruise Line

Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 70,000). It operates 33 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 12 passenger vessels on order among its brands through 2036, representing 37,500 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.

Norwegian Cruise Line Holdings

Ratings for Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) were provided by 13 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">7</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Norwegian Cruise Line, revealing an average target of $23.77, a high estimate of $30.00, and a low estimate of $18.00. A decline of 16.83% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2025/1751306432_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The analysis of recent analyst actions sheds light on the perception of Norwegian Cruise Line by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Robin Farley</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$23.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>James Hardiman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$25.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Patrick Scholes</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Paul Golding</td>
<td>Macquarie</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$27.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Buy</td>
<td>$24.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Lizzie Dove</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$20.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Brandt Montour</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$23.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$30.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Norwegian Cruise Line. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Norwegian Cruise Line compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Norwegian Cruise Line's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Norwegian Cruise Line's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NCLH/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Norwegian Cruise Line analyst ratings.</a>
<h2>Get to Know Norwegian Cruise Line Better</h2>
Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 70,000). It operates 33 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 12 passenger vessels on order among its brands through 2036, representing 37,500 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.
<h3>Understanding the Numbers: Norwegian Cruise Line's Finances</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Decline in Revenue: Over the 3M period, Norwegian Cruise Line faced challenges, resulting in a decline of approximately -2.91% in revenue growth as of 31 March, 2025. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: Norwegian Cruise Line's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -1.89%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Norwegian Cruise Line's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -2.84%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Norwegian Cruise Line's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -0.19%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 9.88, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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Analyst Ratings

NCLH

Expert Outlook: Norwegian Cruise Line Through The Eyes Of 13 Analysts

UBS analyst Robin Farley maintains Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) with a Neutral and lowers the price target from $29 to $23.

News

Price Target

UBS Maintains Neutral on Norwegian Cruise Line, Lowers Price Target to $23

U.S. equities rallied Tuesday morning as investor sentiment improved following a ceasefire agreement between Israel and Iran, confirmed by both President Donald Trump and Israeli <a href="https://www.benzinga.com/news/politics/25/06/46072859/trump-says-israel-is-not-going-to-attack-iran-after-ceasefire-violation-turn-around-and-head-home">Prime Minister Benjamin Netanyahu</a>. 
The Nasdaq 100 jumped 1.6% to 22,200 by 12:45 p.m. ET, putting its February all-time high of 22,222 within striking distance. 
The tech-heavy index also formed a golden cross—a bullish chart pattern where the 50-day moving average moves above the 200-day, often seen as a signal of sustained upward momentum.
All major indexes posted gains of more than 1%. The S&amp;P 500 climbed to 6,100, nearing its record high of 6,147, while the Dow Jones Industrial Average advanced to 43,120.
Oil prices plunged 5% to $64 a barrel, extending Monday's 7.2% drop and echoing the steep two-day declines observed in early April.
Sector performance was broadly positive, with technology and communication services leading the rally. Energy and consumer staples were the only sectors in negative territory.
The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) rose 1.8% to a record $247.26. Within the Magnificent Seven, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) surged 2.5%, outpacing peers.
Semiconductor stocks rebounded sharply, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rallying 3.7%, recovering to levels last seen before the January selloff triggered by DeepSeek-related concerns.
Gold prices fell 1.5% to $3,320 per ounce, as investor demand for safe-haven assets weakened amid reduced geopolitical risk.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.5% to $106,000, following a 4.3% rally on Monday. 
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,199.49</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,160.13</td>
<td>1.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,117.36</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,095.41</td>
<td>1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 1.2% to $559.39.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.2% to $430.75.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.5% to $539.43.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) edged up by 1.2% to $214.36.</li>
<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund outperformed, up 1.9%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Carnival plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rallied 7% after reporting stronger-than-expected quarterly results. </li>
<li>Other cruise and travel stocks rose, with Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) up 4.5%, Royal Caribbean Cruised Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 2.2% and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) up 2.8%. </li>
<li>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) rallied over 8% after launching its autonomous ride-hailing service in Atlanta in partnership with Waymo, covering a 65-square-mile area.</li>
<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) soared over 10% after the Senate passed the stablecoin bill. </li>
<li>Shares of defense contractors tumbled following the ceasefire agreement between Iran and Israel. Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) each fell by about 3%. </li>
</ul>
Now Read: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/06/46077396/powell-interest-rates-trump-inflation-tariffs">Will The Fed Cut Rates In 2025? Powell Says It All Depends On Tariffs </a></li>
</ul>
Image: Shutterstock

Equities

Government

Large Cap

Macro Economic Events

Regulations

Sector ETFs

Broad U.S. Equity ETFs

Economics

ETFs

$BTC

AMZN

BKNG

COIN

SPDR Dow Jones Industrial Average ETF Trust

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

UBER

Tech Stocks Eye Record Highs, Crude Drops To $64 On Iran-Israel Truce: What's Driving Markets Tuesday?

WIIM

Shares of cruise stocks are trading higher in sympathy with Carnival, which reported better-than-expected Q2 EPS and sales.

Shares of cruise stocks are trading rebounding after falling on Friday. Oil prices have come down and geopolitical uncertainty could be easing amid a report suggesting Iran wants to de-escalate Israel hostilities.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/13/25</td>
<td>$330.00</td>
<td>$34.9K</td>
<td>24.1K</td>
<td>156.7K</td>
</tr>
<tr>
<td>NCLH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$20.00</td>
<td>$900.3K</td>
<td>26.6K</td>
<td>11.8K</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$40.00</td>
<td>$25.9K</td>
<td>22.9K</td>
<td>3.3K</td>
</tr>
<tr>
<td>PDD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/21/25</td>
<td>$100.00</td>
<td>$77.7K</td>
<td>603</td>
<td>973</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/13/25</td>
<td>$29.50</td>
<td>$42.1K</td>
<td>2.7K</td>
<td>478</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$290.00</td>
<td>$32.0K</td>
<td>602</td>
<td>288</td>
</tr>
<tr>
<td>XPEV</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$15.00</td>
<td>$63.6K</td>
<td>1.8K</td>
<td>126</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/11/25</td>
<td>$100.00</td>
<td>$69.5K</td>
<td>0</td>
<td>100</td>
</tr>
<tr>
<td>LOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/20/26</td>
<td>$170.00</td>
<td>$48.0K</td>
<td>12</td>
<td>100</td>
</tr>
<tr>
<td>WWW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.50</td>
<td>$51.5K</td>
<td>50</td>
<td>50</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 100 contract(s) at a $330.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $34.9K, with a price of $346.0 per contract. There were 24107 open contracts at this strike prior to today, and today 156757 contract(s) were bought and sold. 
• For NCLH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), we notice a call option trade that happens to be bullish, expiring in 98 day(s) on September 19, 2025. This event was a transfer of 7320 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $900.3K, with a price of $123.0 per contract. There were 26627 open contracts at this strike prior to today, and today 11816 contract(s) were bought and sold. 
• Regarding DKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), we observe a call option trade with bearish sentiment. It expires in 35 day(s) on July 18, 2025. Parties traded 309 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $25.9K, with a price of $84.0 per contract. There were 22941 open contracts at this strike prior to today, and today 3352 contract(s) were bought and sold. 
• For PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we notice a call option trade that happens to be bullish, expiring in 161 day(s) on November 21, 2025. This event was a transfer of 60 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $77.7K, with a price of $1295.0 per contract. There were 603 open contracts at this strike prior to today, and today 973 contract(s) were bought and sold. 
• For GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we notice a put option trade that happens to be bullish, is expiring today. Parties traded 62 contract(s) at a $29.50 strike. The total cost received by the writing party (or parties) was $42.1K, with a price of $680.0 per contract. There were 2716 open contracts at this strike prior to today, and today 478 contract(s) were bought and sold. 
• For CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we notice a call option sweep that happens to be neutral, expiring in 7 day(s) on June 20, 2025. This event was a transfer of 20 contract(s) at a $290.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $32.0K, with a price of $1635.0 per contract. There were 602 open contracts at this strike prior to today, and today 288 contract(s) were bought and sold. 
• Regarding XPEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), we observe a call option trade with bullish sentiment. It expires in 217 day(s) on January 16, 2026. Parties traded 120 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $63.6K, with a price of $530.0 per contract. There were 1834 open contracts at this strike prior to today, and today 126 contract(s) were bought and sold. 
• Regarding BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we observe a call option trade with bullish sentiment. It expires in 28 day(s) on July 11, 2025. Parties traded 49 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $69.5K, with a price of $1420.0 per contract. There were 0 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• Regarding LOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), we observe a put option sweep with bearish sentiment. It expires in 280 day(s) on March 20, 2026. Parties traded 100 contract(s) at a $170.00 strike. This particular put needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $48.0K, with a price of $480.0 per contract. There were 12 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• Regarding WWW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WWW#NYSE">WWW</a>), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on June 20, 2025. Parties traded 50 contract(s) at a $7.50 strike. The total cost received by the writing party (or parties) was $51.5K, with a price of $1030.0 per contract. There were 50 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

BABA

CVNA

DKNG

Citigourp Global Markets 2% Protected Notes Linked To The Djia

TSLA

XPEV

10 Consumer Discretionary Stocks Whale Activity In Today's Session

Norwegian Cruise Line's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) short percent of float has risen 4.13% since its last report. The company recently reported that it has 30.87 million shares sold short, which is 9.07% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.57 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Norwegian Cruise Line Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749834030_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Norwegian Cruise Line has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Norwegian Cruise Line's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Norwegian Cruise Line's peer group average for short interest as a percentage of float is 7.72%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Is the Market Bullish or Bearish on Norwegian Cruise Line?

Shares of cruise stocks are trading lower following Israel's strikes on Iran, which have raised fuel prices and could cloud travel demand outlook.

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has quietly joined the ranks of <a href="https://www.benzinga.com/topic/s-p-500-index">the S&amp;P 500</a>'s biggest EPS disappointments in the first quarter.
According to <a href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_060625A.pdf">FactSet</a>, Tesla landed in the bottom 10 for Actual EPS Surprise %, with its first quarter earnings missing expectations by a stark 25.3% ― a notable spot of underperformance for the EV leader.
<h2 class="wp-block-heading">Tesla's EPS Shock: A Quarter To Forget</h2>
That 25% miss puts Tesla alongside companies like Norwegian Cruise Line Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) and First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) ― far from its usual club of beats.
The data paints a different portrait than the company's headline-grabbing innovations: Tesla is being lumped in with chicken-footed performers, not the industry disruptors.
Read Also: <a href="https://www.benzinga.com/markets/asia/25/06/45834491/tesla-china-sales-surge-in-may-as-new-model-y-juniper-exported-for-the-first-time-amid-us-china-trade-war">Tesla China Sales Surge In May As New Model Y Juniper Exported For The First Time Amid US-China Trade War</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0609"><img loading="lazy" decoding="async" width="628" height="487" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09120643/Screenshot-2025-06-09-at-7.41.54-PM.png" alt="" class="wp-image-943497" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09120643/Screenshot-2025-06-09-at-7.41.54-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09120643/Screenshot-2025-06-09-at-7.41.54-PM-300x233.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0609">Chart created using Benzinga Pro</a>
<h2 class="wp-block-heading">Can TSLA Chart Hold The Line At ~$290?</h2>
Despite the miss, TSLA remains a tale of two markets. Over the past 12 months, it's up nearly 70%, but it has stumbled –22% year-to-date, trading near $293 ― well below both its eight-day and 20-day simple moving averages (SMAs), marking a crisp bearish signal . A deeper dip below this range could signal more technical pain.
Still, Tesla stock manages mixed signals. Its 50-day SMA at $292.32 sits just under current levels, hinting at a possible floor. Meanwhile, the MACD (moving average convergence/divergence) indicator remains positive and the RSI (relative strength index) floats around neutral, signaling technical balance but little conviction .
Why the miss? Production snags. Price cuts that carved into margins. Questions around demand ― especially as EV competition heats up and macro uncertainty lingers.
That said, Tesla's long-term narrative remains intact: its energy business is scaling, global expansion continues, and recurring software and FSD revenue could restore margin optimism.
<h2 class="wp-block-heading">What&#8217;s Next For TSLA Investors?</h2>
TSLA investors may want to keep an eye on:
<ul class="wp-block-list">
<li>Tesla&#8217;s second quarter guidance and any recalibration in price strategy.</li>
<li>The stock&#8217;s technical support and whether it holds around the $290–295 zone or gives way to deeper downside.</li>
<li>A shift in narrative &#8211; if Tesla leans back into margin talk and software recurring revenues, the stock could rebound despite short-term jitters.</li>
</ul>
The investors' dilemma is clear: Tesla may be among the S&amp;P's most disappointing EPS misses in the first quarter, but is that a signal of long-term trouble &#8211; or just a short-lived blip?
Read Next: 
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45834012/tom-lee-dismisses-worries-over-tumbling-tsla-stock-amid-elon-musk-trump-feud-tesla-still-holds-all-of-its-advantages-so-we-arent-too-concerned">Tom Lee Dismisses Worries Over Tumbling TSLA Stock Amid Elon Musk-Trump Feud: &#8216;Tesla Still Holds All Of Its Advantages, So We Aren&#8217;t Too Concerned&#8217;</a></li>
</ul>
Photo: Shutterstock

Technicals

Tech

FSLR

Tesla Among S&P's Big Losers: Q1 EPS Miss Puts TSLA In Bottom 10

A meeting with Norwegian Cruise Line Holdings Ltd's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) top management indicated that the market volatility experienced in March and early April had subsided and bookings had returned to a healthy level, according to JPMorgan.
The Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bcbd9351b9b0001ab738c/matthew-boss">Analyst Matthew Boss</a> reiterated an Overweight rating and price target of $28.
The Thesis: Management indicated no signs of any softening in Europe bookings for 2026, Boss said in the note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
He added that the load factor headwinds are likely to be isolated to the third quarter. This could translate to an occupancy rate of 104.9% for 2026. That&#8217;s above Street expectations of 103.2% and higher than the previous year's 102.5%.
The 3% base-case pricing growth and around 240 basis points of occupancy rate expansion "would support net yield growth of +5.5% Y/Y or double consensus at +2.7% yield growth for FY26," the analyst wrote.
Management indicated that demand trends remained "intact&#8221; for Luxury brands Oceania and Regent, he added.
Norwegian Cruise Line further noted that the cost-saving initiatives they had initiated had been non-consumer-facing and had not impacted customer satisfaction rates, Boss said.
Price Action: Shares of Norwegian Cruise Line Holdings had risen by 0.26% to $19.61 at the time of publication on Monday.
Read More: 
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<li><a href="https://www.benzinga.com/insights/analyst-ratings/25/06/45834002/breaking-down-axos-financial-6-analysts-share-their-views">Premium Travel Demand Gives Airlines, Hotels And Cruises An Edge in 2025: Goldman Sachs</a></li>
</ul>
Image: Shutterstock

Analyst Color

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Travel

Norwegian Cruise Line: Bookings Recover, Occupancy Rates To Beat Consensus, Says Bullish Analyst

It's been smooth sailing for Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) in recent months, while rival Norwegian Cruise Line Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) is still <a href="https://www.benzinga.com/quote/NCLH/news">navigating choppy waters</a>.
However, according to JPMorgan analyst Matthew R. Boss, 2026 could be the year Norwegian flips the script.
<h2 class="wp-block-heading">What&#8217;s Been Driving Carnival&#8217;s 20% Bullish Streak?</h2>
Carnival stock has surged over 20% in the past month and is up nearly 47% year-over-year. The company continues outperforming thanks to strong booking trends, disciplined pricing, and a Europe-focused strategy that's paying off. CEO Josh Weinstein is steering Carnival with a clear focus on yield optimization, margin expansion, and cost discipline. The launch of Celebration Key in the third quarter and over six quarters of margin improvement are fueling bullish sentiment.
Boss highlights Carnival's balance sheet progress as another catalyst, noting the company could hit its investment-grade leverage target ahead of schedule &#8211; potentially unlocking share buybacks or dividends down the line.
Read Also: <a href="https://www.benzinga.com/general/travel/25/05/45680686/premium-travel-demand-gives-airlines-hotels-and-cruises-an-edge-in-2025-goldman-sachs">Premium Travel Demand Gives Airlines, Hotels And Cruises An Edge in 2025: Goldman Sachs</a>
<h2 class="wp-block-heading">Down, But Not Out &#8211; What&#8217;s Behind Norwegian&#8217;s 40% Potential Upside?</h2>
Meanwhile, Norwegian shares have lagged, down over 24% year-to-date despite a 10% rebound in the last month. Still, JPMorgan is sticking with its Overweight rating and a $28 price target &#8211; suggesting over 40% upside from here. The firm hosted Norwegian's top execs in Miami and came away with cautious optimism.
CFO Mark Kempa acknowledged soft demand in the third quarter, especially for longer European itineraries, but emphasized a return to healthy booking levels. More importantly, Norwegian sees a clear path to recapturing occupancy and yield growth by FY26. Management aims for 104.9% occupancy next year &#8211; well above current levels &#8211; paired with a greater mix of higher-yielding 7-day cruises.
Luxury brands Regent and Oceania are other long-term levers, with new leadership aiming to boost margins to peer levels. Norwegian is tightening up behind the scenes on the cost front without touching the guest experience &#8211; an approach that&#8217;s already lifting satisfaction scores.
Carnival may be the current winner of the cruise wars, but Norwegian isn't out of the race. JPMorgan sees a compelling setup for long-term investors willing to wait for smoother seas in 2026.
Read Next: 
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<li><a href="https://www.benzinga.com/25/05/45572655/bofa-sees-mixed-signals-in-leisure-sector-highlights-strength-in-premium-travel-and-cruise-stability">Bank Of America Sees Mixed Signals In Leisure Sector, Highlights Strength In Premium Travel And Cruise Stability</a></li>
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Photo: Shutterstock

Cruise Wars: Carnival Rides Momentum, While Norwegian Plays The Long Game

Analysts' ratings for Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) over the last quarter vary from bullish to bearish, as provided by 16 analysts.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">9</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">5</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Norwegian Cruise Line, presenting an average target of $24.94, a high estimate of $36.00, and a low estimate of $18.00. A 14.21% drop is evident in the current average compared to the previous average price target of $29.07. 
<img src="https://www.benzinga.com/files/images/story/2025/1749153659_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Norwegian Cruise Line by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>James Hardiman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$25.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Patrick Scholes</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Paul Golding</td>
<td>Macquarie</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$27.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Buy</td>
<td>$24.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Lizzie Dove</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$20.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Brandt Montour</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$23.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$30.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>David Katz</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Matthew Boss</td>
<td>JP Morgan</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$30.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Maintains</td>
<td>Strong Buy</td>
<td>$36.00</td>
<td>$36.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Norwegian Cruise Line. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Norwegian Cruise Line compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of Norwegian Cruise Line's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NCLH/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Norwegian Cruise Line analyst ratings.</a>
<h2>Get to Know Norwegian Cruise Line Better</h2>
Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 70,000). It operates 33 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 12 passenger vessels on order among its brands through 2036, representing 37,500 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.
<h3>Key Indicators: Norwegian Cruise Line's Financial Health</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Norwegian Cruise Line's revenue growth over a period of 3M has faced challenges. As of 31 March, 2025, the company experienced a revenue decline of approximately -2.91%. This indicates a decrease in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -1.89%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Norwegian Cruise Line's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -2.84%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Norwegian Cruise Line's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.19%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Norwegian Cruise Line's debt-to-equity ratio stands notably higher than the industry average, reaching 9.88. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 16 Analyst Projections For Norwegian Cruise Line

In a turbulent first half of 2025 for the <a href="https://www.benzinga.com/general/travel">global travel sector</a>, Goldman Sachs sees an edge for investors: &#8220;premiumization.&#8221;
From lie-flat airline seats to luxury cruise cabins and high-end hotel brands, premium travel products have shown striking resilience to macroeconomic pressures—and companies leaning into this segment are emerging <a href="https://www.benzinga.com/topic/travel-stocks">as the strongest performers.</a>
Premium travel is "increasingly driven by higher-income consumers less impacted by short-term macro volatility," said Goldman Sachs analyst Catherine O'Brien.
According to O'Brien, stocks most exposed to "premiumization" include Buy-rated Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>).
<h3 class="wp-block-heading">Airlines: Premium Demand Leads</h3>
In a note shared Thursday, O'Brien highlighted that premium cabins outperformed economy in the first quarter across all major U.S. airlines.
Delta Air Lines posted a 6.8% year-over-year increase in premium revenue in the first quarter, while its main cabin revenue declined 1.2%. United Airlines reported international Polaris cabin revenue up 8% and Premium Plus up 5%.
Alaska Air said premium accounted for 34% of total revenue, with Hawaiian routes contributing a 17% jump in high-end bookings.
Airlines like JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) and American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) echoed similar trends, with premium class outperforming main cabin across both domestic and international routes.
This shift isn't just cyclical. Airlines have introduced more segmented products—from extra legroom economy to exclusive suites—making premium more accessible while preserving upsell potential. Delta's domestic first-class load factor jumped to 75%, from just 12% fifteen years ago.
<h3 class="wp-block-heading">Hotels: Luxury RevPAR Resilience</h3>
In lodging, luxury continues to drive performance.
Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) said its luxury tier had the strongest occupancy and average daily rate (ADR) growth globally in the first quarter, while Hyatt Hotels Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) saw luxury RevPAR (revenue per available room) rise over 8%.
By contrast, Choice Hotels International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHH#NYSE">CHH</a>) and Wyndham Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WH#NYSE">WH</a>), both focused on economy and midscale properties, slashed their 2025 outlooks by up to 300 basis points.
Premium hotel supply remains constrained due to higher construction costs and longer breakeven timelines, which support pricing power and margin sustainability. Growth in luxury RevPAR has led all chain scales for four straight quarters, with the first quarter of 2025 showing 7.5% year-over-year growth.
<h3 class="wp-block-heading">Cruise Lines: Premium Pricing Power</h3>
The cruise sector is also sailing toward premium. Goldman notes that Norwegian Cruise Line and Royal Caribbean Cruises have priced their newest ships at up to 60% premiums over older vessels.
For instance, Royal&#8217;s Icon of the Seas commands a 43% price premium, while NCLH's Norwegian Aqua leads with a 59% markup.
Premium cruise offerings such as "The Haven" suites on Norwegian ships continue to sell out early and achieve top customer satisfaction scores. RCL also noted that ships built after the Oasis class generate 2x the EBITDA of older ships.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45669445/us-economy-contracts-by-02-in-q1-labor-market-shows-signs-of-cracks-as-jobless-claims-surge">US Economy Contracts By 0.2% In Q1, Labor Market Shows Signs Of Cracks As Jobless Claims Surge </a></li>
</ul>
Photo: oneinchpunch/Shutterstock

JBLU

Premium Travel Demand Gives Airlines, Hotels And Cruises An Edge in 2025: Goldman Sachs

Shares of cruise stocks are trading higher, possibly amid overall market strength after President Trump delayed 50% EU tariffs to July. The industry may also be experiencing a rise due to a surge in travel during Memorial Day weekend.

Bank of America Securities offered a cross-sector analysis of the leisure consumer space on Thursday, outlining recent performance <a href="https://www.benzinga.com/analyst-stock-ratings" target="_blank" rel="noreferrer noopener">trends across several key segments.</a>
The firm notes that while trends vary by category, segments like cruises and premium travel continue to show steady performance, whereas more value-focused areas are facing weakness.
In the lodging sector, BofA notes that aggregated credit and debit card data for April spending showed a 3% year-over-year decline, in line with March figures.
The firm also sees weakness in its Las Vegas room rate survey, with forward rates down 11%.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45540545/jim-cramer-recommends-not-buying-mosaic-doesnt-like-this-industrial-stock" rel="noreferrer noopener">Jim Cramer Recommends Not Buying Mosaic, Doesn't Like This Industrial Stock</a>
Analysts suggest that BofA's card data skews toward leisure spending and aligns with commentary from Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), Hyatt Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>), and Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), all of which noted softer low-end RevPAR trends.
In the timeshare segment, performance remains steady despite broader uncertainty.
On the ski front, Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) reported a 3% drop in ski visits this season, underperforming the overall industry, which was up 2%. The lag may be linked to softer non-pass lift ticket sales, which are typically booked during the season and carry a higher price.
Looking ahead to next season, while the number of passes sold is down, total dollars collected are up through April 20. BofA adds that Memorial Day is typically a key trigger for pass sales, but an uptick in web traffic has yet to materialize.
For cruise, BofA notes that based on aggregated monthly debit and credit card data, spending has slowed from the strong double-digit growth seen late last year to flat year-over-year in April.
While some of this decline may be attributed to the timing of Easter, economic uncertainty over the past few months has also likely played a role.
Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) specifically flagged a slowdown in booking activity, especially for longer European sailings. Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) kept its full-year 2025 net yield guidance unchanged, breaking from the usual pattern of upward revisions.
Overall, cruise operators remain well booked for 2025 and still have time to secure additional bookings for 2026 as the year progresses, BofA notes.
Read Next:
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</ul>
Image: Shutterstock

Markets

General

Bank Of America Sees Mixed Signals In Leisure Sector, Highlights Strength In Premium Travel And Cruise Stability

I got into the investment business on a steady diet of Graham and Whitman. But that was the 1980s and early 1990s – the golden age of dealmakers and junk bonds, leveraged buyouts and greenmail. 
Long before the players became gentlemanly private equity titans and activist investors, they were raiders, vultures, and even, in one famous book about the RJR deal, barbarians.
Legendary fortunes were made, reputations created and shattered.
All of these high-return, high-flying strategies shared a common thread. Leveraged buyouts, distressed investing and risk arb were all just variations on the value investing theme.
The private equity giants of today are still doing this. Thanks to their quarterly filings, you can copy their investment approach—a strategy that has beaten the markets 4-to-1 since 2001.
Even the creation of the junk bond market was based on Michael Milken&#8217;s studies on the returns from buying undervalued lower-rated bonds, a strategy founded on basic value investing principles.
The big winners in all these strategies took value investing and added debt.
It was like adding nitro to the tank of a stock car. If you could control the vehicle at high speed through the corners, there was no race you couldn&#8217;t win.
Although the golden age of risk arb and the smaller investors&#8217; ability to compete in distressed debt are all behind us, we can still use the combination of debt and value investing to beat the index by a wide margin.
When the 13F filings come out every quarter, most of the short-attention-spans in the market today head for the same filings at the same time.
Warren, Cathie, Stanley, Tepper and Seth still get all the attention.
I may get around to those at some point, but one of the first places I turn is to the leading private equity firms.
Firms like Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) still use basic principles of value investing along with a healthy dose of debt to drive massive returns for themselves and their investors.
What most people do not realize is that these firms also have large public securities portfolios, and stealing their ideas has created some massive market-beating opportunities.
If you had bought shares of Mr. Cooper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) when it first appeared in KKR&#8217;s public portfolio in 2018, you could have made almost ten times your money.
Buying shares of AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) when KKR first revealed its position would have resulted in gains of almost seven times your initial cost.
DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) would have delivered gains of 3x in just a few years.
Owning the firm&#8217;s top ten holdings since 2001 would have beaten the market by a 4-to-1 margin.
I do not care what the media darling investors bought last quarter. Tell me what the profit pirates at KKR own, and I can create an opportunity to score massive gains.
The current top ten holdings for KKR are:
BrightSpring Health Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTSG#NASDAQ">BTSG</a>) provides home and community-based health services to complex patients, positioning itself in a niche with long-term demographic tailwinds. The company is newly public and pursuing scale through both organic growth and targeted acquisitions in behavioral and specialty pharmacy segments.
Henry Schein (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) is a global distributor of dental and medical supplies primarily serving small- and mid-sized practices. The company generates stable cash flow and has a long history of disciplined capital deployment, though growth is modest and sensitive to procedure volume trends.
BrightView (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) is the largest commercial landscaping services provider in the U.S., with recurring maintenance revenue making up the majority of its business. Under new leadership, the firm is undergoing a restructuring push to improve margins and reduce debt after years of underperformance.
KKR Real Estate Finance Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is a commercial mortgage REIT focused on senior loans backed by institutional-grade real estate, primarily in urban markets. It offers a high dividend yield but remains exposed to office market weakness and refinancing risk in a higher-rate environment.
Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>) owns marquee sports franchises, including the New York Knicks and Rangers, offering investors a rare asset-backed play on professional sports. Valuation is driven more by franchise appreciation than earnings power, making it a long-duration, event-driven asset.
Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) is a leading cruise operator with a strong focus on premium and upscale offerings across its brand portfolio. The company is rebounding from pandemic-era disruptions, though it still carries significant leverage and remains sensitive to fuel and labor costs.
Bausch Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) is a diversified specialty pharmaceutical company with exposure to eye health, dermatology, and branded generics. However, the company is still burdened by high legacy debt. While it&#8217;s pursuing a turnaround strategy and asset divestitures, legal overhangs and weak cash flow remain headwinds.
FS KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSK#NYSE">FSK</a>) is one of the largest business development companies, focused on senior secured lending to middle-market companies with an emphasis on downside protection. It offers a double-digit yield and strong sponsor backing, though credit quality and NAV stability require close monitoring.
Crescent Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSGY#NYSE">CSGY</a>) is a cash-generating E&amp;P company with a private equity-backed structure and a focus on acquiring and optimizing mature, low-decline assets. The firm maintains a disciplined capital return framework and hedging strategy, making it a defensive upstream play with yield upside.
BridgeBio Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) is a commercial-stage biopharmaceutical company developing treatments for genetic diseases and cancers with clear genetic drivers. Its lead drug, Attruby (acoramidis), approved in late 2024 for transthyretin amyloid cardiomyopathy, significantly outperformed sales expectations in its first full quarter, positioning the company as a strong competitor in the cardiomyopathy treatment market.
<h2 class="wp-block-heading">Turn Market Mayhem Into Profit Signals This Memorial Day</h2>
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Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

Opinion

BBIO

BTSG

COOP

CSGY

DASH

HSIC

KREF

MSGS

The Smart Money Is Buying These 10 Stocks

Analysts' ratings for Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) over the last quarter vary from bullish to bearish, as provided by 19 analysts.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">9</td>
<td align="right">4</td>
<td align="right">6</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">4</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Norwegian Cruise Line, revealing an average target of $25.95, a high estimate of $36.00, and a low estimate of $18.00. Experiencing a 11.94% decline, the current average is now lower than the previous average price target of $29.47. 
<img src="https://www.benzinga.com/files/images/story/2025/1747677683_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Norwegian Cruise Line. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Patrick Scholes</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Paul Golding</td>
<td>Macquarie</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$27.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Buy</td>
<td>$24.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Lizzie Dove</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$20.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Brandt Montour</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$23.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Laura Champine</td>
<td>Loop Capital</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Wieczynski</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$30.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>David Katz</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Grambling</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Matthew Boss</td>
<td>JP Morgan</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$30.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Maintains</td>
<td>Strong Buy</td>
<td>$36.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Andrew Didora</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$26.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Paul Golding</td>
<td>Macquarie</td>
<td>Raises</td>
<td>Outperform</td>
<td>$31.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>James Hardiman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$34.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Norwegian Cruise Line. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Norwegian Cruise Line compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Norwegian Cruise Line's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/NCLH/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Norwegian Cruise Line analyst ratings.</a>
<h2>About Norwegian Cruise Line</h2>
Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 70,000). It operates 33 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 12 passenger vessels on order among its brands through 2036, representing 37,500 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.
<h3>Breaking Down Norwegian Cruise Line's Financial Performance</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Challenges: Norwegian Cruise Line's revenue growth over 3M faced difficulties. As of 31 March, 2025, the company experienced a decline of approximately -2.91%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: Norwegian Cruise Line's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -1.89%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Norwegian Cruise Line's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -2.84%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Norwegian Cruise Line's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -0.19%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Norwegian Cruise Line's debt-to-equity ratio surpasses industry norms, standing at 9.88. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 19 Analyst Projections For Norwegian Cruise Line

Truist Securities analyst Patrick Scholes maintains Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) with a Buy and lowers the price target from $35 to $27.

Truist Securities Maintains Buy on Norwegian Cruise Line, Lowers Price Target to $27

Cruise line stocks are historically among the strongest seasonal performers in the S&amp;P 500 heading into the second half of May, with Royal Caribbean Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) and Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) averaging double-digit returns over a <a href="https://www.benzinga.com/topic/seasonality">three-week window.</a>
Historical data from Seasonax platforms shows that from May 14 to early June, these three stocks have consistently outperformed over the past decade, with average gains north of 10%. 
Among all S&amp;P 500 constituents, they rank at the very top for late-spring seasonality. Seasonal strength is typically fueled by ramping summer demand, strong forward bookings, and an uptick in consumer travel spending ahead of peak vacation months.
Here are the top five S&amp;P 500 stocks by average return in a three-week period starting from May 14:
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Stock</th>
<th>Avg. Return (Last 10 years)</th>
<th>Max Profit</th>
<th>Max Loss</th>
<th>Win Rate</th>
<th>Pattern Dates</th>
</tr>
</thead>
<tbody>
<tr>
<td>Norwegian Cruise Line</td>
<td>+13.75%</td>
<td>+149.63%</td>
<td>-6.59%</td>
<td>5/10</td>
<td>May 14 – Jun 7</td>
</tr>
<tr>
<td>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</td>
<td>+11.98%</td>
<td>+102.49%</td>
<td>-0.11%</td>
<td>9/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Royal Caribbean</td>
<td>+11.52%</td>
<td>+113.71%</td>
<td>-7.48%</td>
<td>6/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Carnival Corp.</td>
<td>+11.28%</td>
<td>+103.02%</td>
<td>-5.19%</td>
<td>5/10</td>
<td>May 14 – Jun 6</td>
</tr>
<tr>
<td>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>+10.69%</td>
<td>+88.13%</td>
<td>-4.95%</td>
<td>8/10</td>
<td>May 14 – Jun 7</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Seasonax</figcaption></figure>
<h3 class="wp-block-heading">RCL Sees Strong Summer Bookings</h3>
In a note from late April, Goldman Sachs analyst Lizzie Dove pointed to a strong reversal in booking momentum despite broader macro uncertainty and uneven travel data across the sector.
April bookings at RCL exceeded the same month last year, while close-in bookings remained firm. 
The company also reported stronger-than-usual onboard spending and pre-cruise purchases. Forward bookings for 2026 were tracking in line with 2024 levels but at higher prices—a sign of pricing power in an inflation-sensitive market.
With approximately 86% of the 2025 cruise calendar already booked, Dove's team raised their estimates and lifted the stock's price target from $245 to $260. However, they retained a slightly more cautious tone in 2026, pending more clarity on consumer resilience.
Since hitting tariff-driven lows on April 9, shares of RCL have surged 50% through mid-May —more than twice the gain of the S&amp;P 500. CCL shares matched the performance during the same period. 
<h3 class="wp-block-heading">NCLH Flags Demand Softness Amid Macro Pressures</h3>
In contrast, Norwegian Cruise Line is facing a different set of conditions. 
In early May, Bank of America analyst Andrew Didora highlighted NCLH as the first in the group to show softness in its 12-month forward-booked position.
While this wasn't viewed as unexpected—given the macro backdrop, consumer sentiment, and fare discounts introduced under the Oceania brand—it raised questions about forward pricing discipline across the cruise industry. Didora added that weakening demand isn't isolated to NCLH, and other operators may be seeing similar dynamics. 
BofA cut its 2025 and 2026 EPS forecasts for NCLH by 3% and 2%, now expecting $2.07 and $2.53, respectively. It revised the price objective down from $23 to $20 while maintaining a Neutral rating on concerns around leverage and top-line pressures.
Shares of NCLH have rallied 36% since April lows, underperforming versus peers. 
Read now: 
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Photo: Shutterstock

ENPH

Cruises Set Sail Ahead Of Summer Boom: These 3 S&P 500 Stocks Show Strongest Late-May Seasonality

Morgan Stanley analyst Stephen Grambling maintains Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) with a Equal-Weight and lowers the price target from $21 to $20.

Morgan Stanley Maintains Equal-Weight on Norwegian Cruise Line, Lowers Price Target to $20

Management

Press Releases

Norwegian Cruise Line Holdings Appoints Former United Airlines Executive, Linda P. Jojo, to Its Board of Directors

OCEANIA CRUISES INVITES GUESTS TO EMBRACE THE HOLIDAY SPIRIT WITH EXTRAORDINARY FESTIVE VOYAGES

Panera Brands Appoints José Cil as Chairman

Oceania Cruises Announces 2026 Specialty Cruises Featuring Celebrated Culinary Figures, Exclusive Events, Hosted Shore Excursions, and Enriching Onboard Programming

STEEL CUTTING FOR OCEANIA SONATA™ HERALDS A NEW CHAPTER IN REFINED LUXURY CRUISING FOR OCEANIA CRUISES

Norwegian Cruise Line Holdings Releases Its 2024 "Sail & Sustain™" Report

Regent Seven Seas Cruises® Unveils The Largest All-Inclusive, Ultra Luxury Cruise Ship Suite in History: The Skyview Regent Suite

OCEANIA CRUISES® BLENDS JAPANESE PRECISION AND PERUVIAN BOLDNESS BY INTRODUCING NIKKEI CUISINE TO RED GINGER'S MENU

OCEANIA CRUISES® NAMES A COLLECTION OF FOOD & WINE BEST NEW CHEFS AS GODPARENTS OF NEWEST SHIP, OCEANIA ALLURA™

Financing

Norwegian Cruise Line Holdings Announces Upsize of its Revolving Credit Facility

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GreenTree Hospitality Gr

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Hyatt Hotels

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Hilton Worldwide Holdings Inc. Common Stock

Hilton Worldwide Holdings

H World Group Limited - American Depositary Shares

H World Group

Intercontinental Hotels Group American Depositary Shares (Each representing one Ordinary Share)

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