12:40 AM EDT, 05/07/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price to $17 from $20, on 2024 EV/EBITDA of 9.5x, within NCLH's historical trading range of 8x-13x. We maintain our 2024 EPS view of $1.29 but lower our 2025 EPS to $1.69 from $1.71. NCLH posted Q1 adj-EPS of $0.16, $0.07 above consensus. Revenue of $2,191M (+20.3% Y/Y) was $45M below consensus. Adj-EBITDA increased to $464M vs. $452M consensus, with margin widening to 21.2%. NCLH's occupancy increased 3 points Y/Y to 104.6%, with net yield growth (ex-fx) up 16.2% Y/Y. As a result, NCLH raised its 2024 guidance for net yield growth (~6.4%), adj-EBITDA ($2.3B), and adj-EPS ($1.32). However, this failed to impress the market as NCLH still expects a significant negative impact from itinerary disruptions in the Middle East and the Red Sea, along with a large increase in dry-dock days (+70 days Y/Y). Despite the steep drop in share price, given the lack of clarity in NCLH's outlook beyond 2H 2024, we still prefer staying on the sidelines until at least the Investor Day on May 20.