Norwegian Cruise Line: Attractive Growth And Value

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About: Norwegian Cruise Line Holdings Ltd. (NCLH), Includes: CCL, RCL
by: Spring Mill Research
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Spring Mill Research
Value, Growth, contrarian, CFA
Summary

Here I outline my rationale for recently buying attractively valued shares in Norwegian Cruise Lines.

Discuss features that make NCLH unique from its larger cruise peers and shed light on its record of past growth (including pre-IPO).

Speak to ongoing demand dynamics and provide my forecasts for growth in capacity, cash flows and other key fundamental drivers.

Norwegian Cruise Lines (NCLH), throughout its relatively brief public history since IPO in 2013, has led the cruise industry on most key growth measures. But, after the stock under-performed larger peers Carnival Corp.