Shares of Norwegian Cruise Lines could surge nearly 100% as recent weakness opens up a long-term buying opportunity, according to Stifel. Analyst Steven Wieczynski reiterated a buy rating, and significantly raised estimates for earnings before interest, taxes, depreciation and amortization next year and the year after, as demand for cruises continues to improve. “We recently had the chance to spend a significant amount of time with management (CEO/ CFO) onboard their newest ship, Norwegian Prima,” Wieczynski wrote in a Monday note. “Post our time with management, we feel comfortable enough to significantly raise our 2023/2024 EBITDA estimates based on continued strength in booking/pricing patterns.” Shares of Norwegian Cruise Lines have tumbled 37% this year, and are 55% off a 52-week high set last November, as the company has contended with lower demand and pandemic restrictions. However, the analyst expects “materially accelerated” bookings over the past couple weeks, even as the company charges higher prices, could mean better visibility into cash inflows as customers rush to book early. Stifel raised the 2023 and 2024 EBITDA estimates to $1.86 billion and $2.46 billion, up from $1.6 billion and $2.29 billion, respectively. Meanwhile, the analyst reiterated a $26 price target, representing 99% upside from Friday’s closing price of $13.05 for the company. Shares jumped 2.3% in Tuesday premarket trading. To be sure, the cruise line company continues to face challenges due to the pandemic, rising fuel prices, and a slowing economy. Still, the analyst expects “the risk/reward in NCLH shares seems overly compelling at current levels, and we would be using recent weakness as a long-term buying opportunity.” —CNBC’s Michael Bloom contributed to this report.