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Stifel Labels Norwegian Cruise Line Weakness a Buying Opportunity -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Norwegian Cruise Line Holdings Ltd (NYSE:) shares are down for a 7th consecutive day Tuesday, falling more than 7% heading into the close.

Steven Wieczynski from Stifel sees the weakness of the stock as a buying opportunity. He tells investors that the market “misinterprets” capital market transactions made public by the company.

Analyst, Wieczynski, reiterated his buy rating for shares and set a target price of $35 on the shares. He said after speaking with company officials about how the transactions work, it was clear that they were an “absolute plus” for them. Wieczynski claims that they aren’t increasing the diluted share count and have significantly reduced overall borrowing costs. 

Norwegian has announced yesterday a registered direct sale of ordinary shares to holders of NCL Corporations senior notes with 6% convertible value due in 2024. Norwegian Cruise Line’s subsidiary NCL Corporation.

NCLH shares have been trading at around $23.60 during the session’s last 30 minutes.

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