Wells Fargo Initiates Coverage of Norwegian Cruise Line (NCLH) with ‘Overweight’ Rating, $30 PT, Calls Selloff a Buying Opportunity

Core Viewpoint - Norwegian Cruise Line Holdings Ltd. is considered one of the most undervalued stocks on the NYSE, with Wells Fargo initiating coverage with an Overweight rating and a price target of $30, viewing the recent selloff as a buying opportunity [1][3]. Financial Performance - In Q3 2025, Norwegian Cruise Line achieved its highest quarterly revenue ever at $2.94 billion, a 4.69% increase compared to Q3 2024, driven by strong customer demand and a Load Factor of 106.4% [2][3]. - The company's Adjusted Net Income for the quarter was $596 million, with an Adjusted EPS of $1.20, surpassing estimates by $0.06 [2]. - Booking activity in Q3 was the strongest in the company's history, with bookings up over 20% year-over-year, and this trend continued into October [3]. Guidance and Future Outlook - Norwegian Cruise Line raised its full-year adjusted EPS guidance to $2.10, reflecting a 19% year-over-year increase [3]. Company Overview - Norwegian Cruise Line Holdings operates as a cruise company with brands including Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, serving markets in North America, Europe, the Asia-Pacific, and internationally [4].