Wells Fargo and Citigroup lift price targets on VIK to $109 and $101, respectively, after a 3.4% gain to $86.58.
Shares of Viking Holdings Ltd (VIK) rose 3.4% to $86.58 after Wells Fargo upgraded the stock to “overweight” from “equal weight” and raised its price target to $109 from $79. Citigroup also increased its target to $101 from $90, citing strong business fundamentals in the travel sector.
VIK has outperformed broader travel sector concerns, hitting a record high of $92 last week. The stock has surged 77% year-over-year, supported by multiple bullish analyst notes. A historic bull signal, indicated by a 10-day put/call volume ratio of 4.33, suggests further upside potential.
Options data shows VIK has been higher one month after similar signals 75% of the time, with an average 9.9% return. A move of this magnitude could push the stock near $95, marking another record high.