JPMorgan downgrades Norwegian Cruise Line to Underweight and cuts price target to $11
JPMorgan lowered its rating on Norwegian Cruise Line Holdings to Underweight from Neutral and set a new price target of $11. The downgrade coincided with the stock falling 3.2% to $15.05 in pre‑market trading. Analysts now expect flat constant‑currency yield growth for the year and a Q3 EPS of about $0.90, down roughly 24% year‑over‑year, while the company carries about $16 billion of debt. The move adds pressure ahead of the company’s earnings release on October 29.
Why it matters
The downgrade and lower target signal reduced visibility and earnings expectations, which could depress the share price before the upcoming earnings report. Analysts’ EPS forecast of $0.90 versus prior expectations highlights a potential profit decline that investors will watch closely.
Key facts
- 1JPMorgan changed its rating on Norwegian Cruise Line to Underweight from Neutral and set a price target of $11. marketscreener.com
- 2The stock fell 3.2% to $15.05 in pre‑market trading after the downgrade. investing.com
- 3JPMorgan cut its price target by $2 to $11. investing.com
- 4The brokerage expects flat annual constant‑currency yield growth for the year. investing.com
- 5Norwegian Cruise Line carries roughly $16 billion of total debt. investing.com
- 6The stock has lost about 32% of its value year‑to‑date. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.