Morgan Stanley Upgrades Viking (NYSE:VIK) to Overweight

Viking (NYSE:VIK - Get Free Report) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $49.00 price target on the stock, up from their prior price target of $37.00. Morgan Stanley's price target would suggest a potential upside of 8.00% from the stock's previous close.

Several other analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Viking from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Barclays raised their price objective on Viking from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of Viking from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on Viking from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, September 4th. Finally, Bank of America lifted their price target on Viking from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Viking currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.67.

Viking Stock Performance

Shares of VIK traded up $0.93 during midday trading on Tuesday, hitting $45.37. The company had a trading volume of 1,997,095 shares, compared to its average volume of 1,861,694. Viking has a 52 week low of $25.71 and a 52 week high of $45.96. The firm has a 50 day moving average price of $36.74.

Viking (NYSE:VIK - Get Free Report) last issued its earnings results on Thursday, August 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. As a group, sell-side analysts expect that Viking will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of Viking during the second quarter valued at approximately $2,063,879,000. Select Equity Group L.P. purchased a new position in Viking during the second quarter valued at $145,989,000. Massachusetts Financial Services Co. MA bought a new stake in Viking during the second quarter valued at about $73,247,000. Forest Avenue Capital Management LP purchased a new stake in Viking in the second quarter worth about $58,008,000. Finally, Millennium Management LLC purchased a new position in shares of Viking during the 2nd quarter valued at about $42,008,000.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.