Morgan Stanley analyst Stephen Grambling upgraded Viking Holdings to Overweight from Equal Weight with a price target of $49, up from $37. The shares have rallied recently but lagged peers, resulting in a more attractive relative valuation, the analyst tells investors in a research note. The firm sees strengthening demand for the company, improving gross margins and commencing capital return. Despite a recent rally following stronger peer results and the outcome of the U.S. election, Viking Holdings has lagged core cruise peers the last three months, the analyst tells investors in a research note.
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