Credit Suisse has lowered its recommendation for cruise company Norwegian Cruise Line two notches from outperform to underperform. It reports CNBC. 

The reduction is justified by the fact that the stock is trading at a clear premium and Credit Suisse analysts believe that investors should invest their money in other cruise companies instead. 

”"The stock has clearly outperformed since the turn of the year and we see risk to estimates and valuation relative to sector peers," writes Credit Suisse analyst Benjamin Chaiken in the analysis according to CNBC. 

In the sector, Credit Suisse prefers Royal Caribbean instead. In addition to the recommendation downgrade, the bank is also cutting its target price for Norwegian from $20 to $14 per share. 

The stock fell 6 percent to $16.50 in Thursday's US pre-trade. 

Source: DI.SE