Group 1 - Bank of America maintains a "Buy" rating for Viking Holdings (VIK.US) with a target price of $70, citing the company's differentiated and high-end business model as a driver for strong returns and pricing power [1] - Viking Holdings updated its booking curve, showing a pricing growth improvement from +4% to +5% for 2026, and an acceleration from +6% to +7% for river cruise pricing, attributed to strong demand from resilient high-end consumers [1] - Management expresses confidence in mid-to-long-term low single-digit pricing growth, supported by the 2026 booking curve [1] Group 2 - Investors are focused on Viking Holdings' unique brand positioning and strategy compared to other cruise companies, leading to a return on invested capital (ROIC) exceeding 20% [1] - The company emphasizes an all-inclusive, destination-focused, and culturally rich product offering, which differentiates its supply [1] - Management is satisfied with cash and leverage conditions, indicating they may even be under-leveraged, with a projected net debt to EBITDA ratio of 1.2 times for 2025 [1] Group 3 - Viking Holdings prioritizes cash for reinvestment in the business or potential acquisitions before returning capital to shareholders [2] - Potential acquisition opportunities may involve dock space or other enhancement projects, as the company views its single brand as a core advantage [2]