-- (Updates with the analyst's commentary.)
Morgan Stanley cut Norwegian Cruise Line's (NCLH) price target to $20 from $23, highlighting the company's deteriorating yields as reflected by the trimmed 2026 earnings per share outlook.
"The sudden change in yield guidance implies a material deterioration in a short window given ~80%+ of a quarter out is already booked," Morgan Stanley said in a Tuesday note.
Morgan Stanley also expects a prolonged turnaround for Norwegian Cruise, the note said, adding that trends have fallen across cruise.
Norwegian Cruise Line has an average rating of overweight and mean price target of $21.81, according to analysts polled by FactSet.
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Price: $17.31, Change: $+0.11, Percent Change: +0.61%