JPMorgan 在财报前将 NCLH 下调至减持，并将目标价下调至11美元，预计其将因2027年需求与成本的不确定性以及欧洲敞口而下滑——欧洲旅行客户中约85%来自美国；即便财报超预期，邮轮与国际旅行需求仍不明朗。
逐段跳播
我们来说说这家挪威公司的评级下调。它被摩根大通下调了评级。摩根大通将其评级下调至“减持”，并把目标股价下调至11美元。这发生在它公布利润之前。因此，他们认为股价会从这里下跌。目前我们正看到超过5.5%的跌幅。
Let's talk about the downgrade of the Norwegian company. I have been downgraded by JPMorgan Chase. They downgraded its rating to "underweight" and lowered the stock price target to $11.
This was before the announcement of its profits. Therefore, they expect a drop from here. We are currently experiencing a decline of more than 5.5 percent .
担忧在于2027年，需求会是什么样，成本会是什么样。他们仍预计盈利会略高于华尔街的预期，但即便盈利超出预期，从这里往后情况会怎样？人们还会去坐邮轮吗？他们还会进行那些国际旅行吗？这是这里的担忧之一。
The concern is about 2027, what demand will look like , and what costs will look like. They still expect earnings to come in slightly higher than Wall Street estimates, but even if earnings beat expectations , what will the situation look like from here?
Do people still take cruises? Will they be making those international trips ? This is one of the concerns here.
Norwegian Cruise Line在欧洲的业务敞口取决于美国旅客。据摩根大通称，Norwegian欧洲旅行客户中约85%来自美国。所以，如果他们因为成本等等原因，比如燃油成本，而降低去欧洲旅行的意愿，那么他们会在定价时把这一点考虑进去，比如如果你或我想去那里坐邮轮，这会影响我们船票的价格。
然后我们就会问，我们会不会改去加勒比海，因为那里可能更便宜？我不知道。所以，这是担忧之一，这里的成本，以及欧洲的需求会是什么样，Nicole？
Norwegian Cruise Line's exposure to Europe depends on American travelers. According to JPMorgan Chase, approximately 85% of Norwegian's European travel customers come from the United States .
So , if they reduce their desire to travel to Europe, say because of cost and so on , fuel costs for example, then, you know , they will take that into account in the price that, say, if you or I wanted to take a cruise there; This will affect the price of our ticket.
Then we ask the question, will we go to the Caribbean because it might be cheaper? I don't know. So, this is one of the concerns , the cost here and what does the demand look like in Europe , Nicole?