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On Wednesday, Stifel analysts adjusted the price target for Lindblad Expeditions Holdings (NASDAQ:LIND), currently trading at $9.79, reducing it to $17 from the previous $18, while continuing to endorse the stock with a Buy rating. The stock has shown strong momentum with a 12.22% gain over the past week. The firm’s analysts highlighted recent positive trends, noting that first-quarter 2025 occupancy rates increased significantly year-over-year and surpassed their estimates. The improvement was not solely attributed to the collaboration between Disney (NYSE:DIS) and National Geographic but was seen as a contributing factor. According to InvestingPro, the company has demonstrated solid revenue growth of 15.71% over the last twelve months.
The analysts observed that Lindblad has chosen not to adjust its guidance upwards, interpreting this as a cautious approach amid the current uncertain economic climate. This decision was made despite signs of healthy demand and a standard rate of cancellations. Stifel’s analysts anticipate that Lindblad’s occupancy levels could return to pre-pandemic figures by 2026. InvestingPro data reveals that while the company faces some challenges with short-term obligations exceeding liquid assets, it maintains a healthy gross profit margin of 47.52%. For deeper insights into Lindblad’s financial health and additional ProTips, subscribers can access the comprehensive Pro Research Report.
In their report, Stifel included a conservative forecast, factoring in a moderate recession in the years 2026 and 2027, expecting an average decrease in EBITDA of 6%. Despite this, their revised price target of $17 implies a substantial upside of over 75%, even if a recessionary scenario were to occur.
The analysts concluded that the demand for Lindblad’s offerings remains robust, albeit with some fluctuations, and that the company’s cancellation rates have not deviated from the norm. This assessment suggests confidence in the company’s performance and resilience in the face of potential economic challenges ahead.
In other recent news, Lindblad Expeditions Holdings Inc. reported a strong financial performance for the first quarter of 2025. The company achieved a total revenue of $180 million, which exceeded the forecast of $163.92 million, marking a 17% increase compared to the same period last year. Lindblad also reported a positive earnings per share (EPS) of $0.01, surpassing the anticipated loss of $0.02 per share. The company’s net income reached $1 million, reversing previous losses, while occupancy rates climbed to 89%. Revenue from the Lindblad segment rose by 11% to $131 million, and land experiences revenue increased by 38% to $49 million. Adjusted EBITDA saw a significant rise of 39% year-over-year, totaling $30 million. Lindblad’s strategic initiatives, including new vessel acquisitions and partnerships, contributed to these positive results. The company provided optimistic guidance for 2025, projecting total tour revenue between $700 million and $750 million, with expected adjusted EBITDA ranging from $100 million to $112 million.
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