Norwegian Cruise Line falls after Truist downgrade ahead of earnings
BUZZ-Norwegian Cruise Line falls after Truist downgrade ahead of earnings ** Shares of Norwegian Cruise Line NCLH.N down as much as 3% at $18.75
** Brokerage Truist downgrades stock to "hold" from "buy", ahead of quarterly earnings next week
** We do not particularly like the set-up at the moment for cruise stocks, brokerage says, noting fairly mediocre levels of underlying demand given macro pressures on consumer
** Observes "unusually large" promotional activity urging rivals to roll out promotions as well to compete, pressuring industry
** Notes hantavirus-driven booking softness in May through mid-June
** Sees limited upside as stock nears brokerage's $20 price target
** Shares of rivals Royal Caribbean RCL.N and Carnival CCL.N also down ~2%, amid broader market declines
** RCL to report on Tuesday, NCLH on Thursday
** YTD up to last close, NCLH down ~13%, CCL down 14%, RCL up ~2.5%
(Reporting by Shania S Thomas in Bengaluru)