Lindblad Expeditions (LIND) Stock Forecast & Price Target

Lindblad Expeditions Holdings Inc is expected to see a significant increase in its charter business, with management projecting this segment to reach double-digit percentage growth in FY26, which reflects a strategic focus on expanding this area of the cruise operations. Accelerated booking trends are also noteworthy, as management reported that early 3Q25 saw the highest booking week in terms of sales in the company's history, indicating strong demand and consumer confidence. Furthermore, the company is diversifying its revenue sources by leveraging new sales channels, including international markets and the charter business, which is anticipated to contribute positively to occupancy rates and revenue generation in the upcoming fiscal year.

Lindblad Expeditions Holdings Inc. is expected to face significant challenges in fiscal year 2025, which has been characterized by management as a transitional year, necessitating substantial investments that could affect its financial performance. The company is confronted with a difficult comparison for the third quarter of 2025, as its previous year's occupancy rate was 82% and EBITDA reached $46 million, indicating potential deceleration in growth. Furthermore, despite recent load factor outperformance, management has consistently conveyed that the required measures to restore historical performance levels will predominantly occur in the second half of 2025, raising concerns about the sustainability of current investor sentiment.