Another cruise line stock is getting an upgrade from Macquarie, which has adjusted its price target for Norwegian Cruise Line Holdings (NCLH) stock

Macquarie, in a note sent to investors, said that NCLH was executing well on the current demand dynamics and thus it was adding 4 percent to its price target for the stock, setting a new price target of $24 per share, up from $23.

Macquarie noted that NCLH said that 70 percent of third quarter cruises were operating in Europe and Alaska, where the company is seeing “solid demand from North American customers.”

“With costs for 2Q coming in better than expected, this largely reflected the timing of certain costs, which will now fall into 3Q. Our updated forecasts capture this,” Macquarie stated. “Management also reiterated on the call that 3Q will not see any negative impact from Middle East cancellations and rerouting.”