Why Viking Holdings Shares Are Surging Today

Viking Holdings Ltd (NYSE: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 (NYSE: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.