Zinger Key Points
- Viking Holdings shares rise after analysts raise price targets despite mixed Q2 results.
- Stifel, Morgan Stanley, and BofA maintain positive outlooks, with price targets ranging from $37 to $40.
- Get New Picks of the Market's Top Stocks
Viking Holdings Ltd VIK shares are trading higher after analysts raised their respective price targets on the stock.
Stifel boosted the price target to $39 from $37 while maintaining a Buy rating. Morgan Stanley upped the price target to $37 from $35 while reaffirming an Equal-weight rating.
On Thursday, the company reported second-quarter EPS of $0.37, which missed the consensus of $0.65 and sales of $1.59 billion, beating the street view of $1.43 billion.
BofA Securities analyst Andrew G. Didora reiterated a Buy rating with a price target of $40.
The analyst says that there was significant attention on weaker pricing compared to the mid-May update, with 2024 prices of +8% (vs. +9% previously) and 2025 prices of +10% (vs. +12% earlier).
The analyst writes that a portion of the second-quarter cost beat was due to timing, so they are only making modest adjustments to the full-year estimates. The 2024 and 2025 EBITDA forecasts are now $1.275 billion and $1.568 billion, respectively, up from $1.268 billion and $1.563 billion.
The analyst writes that they are adjusting the timing of the net yield projections for the second half, but the full-year pricing estimate remains unchanged at +6%.
Investors can gain access to stock via Tema ETF Trust Tema Luxury ETF LUX.
Price Action: VIK shares are up 6.98% at $35.54 at the last check Friday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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