Shares of Norwegian Cruise Line Holdings (NCLH) - Get Report were climbing higher over 2% during early morning trading on Friday following an upgrade of the stock at Wedbush to "Outperform" from "Neutral" with a price target of $61.

The firm's previous price target on the Miami-based global cruise company was $54.

"At its essence, this is an industry-specific fundamental call with a company-specific valuation opportunity," Wedbush analyst James Hardiman noted.

"The biggest opportunity with the stock remains its anemic valuation multiple; as investors regain confidence in the Norwegian management team, we believe the multiple will expand," Hardiman contended.

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