Author: Vitaliy Dadalyan

How Long Will Norwegian Cruise Line's Liquidity Last After Capital Raise?

Cruise operators remain docked, as the CDC has extended its "no sail" orders through Sept. 30. The protracted suspension in the wake of the COVID-19 pandemic has severely impaired the financials of these companies.Despite recent fundraising, the liquidity position in the cruise sector remains precarious.The Cruise Line Analyst: BofA Securities analyst Andrew Didora has Neutral ratings on shares of Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) and Carnival Corp (NYSE: CCL).The analyst reduced his price targets for Norwegian shares from $19 to $17 and for Carnival shares from $17 to $16.Didora has an Underperform on Royal Caribbean Cruises Ltd (NYSE: RCL) with a price target lowered from $40 to $$39. The Cruise Line Thesis: Cruise lines continue to burn cash with operations suspended, Didora said in a Tuesday note. (See his track record here.)The companies face record refunds and minimal new spending on cruises given the global travel restrictions and the...