CNBC's Jim Cramer on Thursday reviewed the IPO of Viking.
CNBC's Jim Cramer on Thursday reviewed the IPO of Viking, a cruise line whose market debut this week was the biggest of the year so far, and said he's willing 'to pay up' for the stock.of the year so far. And despite its hefty price tag, Cramer said he's willing to endorse the stock.
Viking stands apart from much of the competition — its ships don't have casinos, children aren't allowed and it specifically targets a wealthy consumer. The company offers voyages with niche destinations such as Iceland or Egypt. To Cramer, this target audience gives Viking an edge. Cramer was impressed by Viking's margin expansion so far. Even though its preliminary first-quarter results show growth decelerating since the pandemic, he said he thinks it's still "growing nicely." He conceded that Viking doesn't have a perfect balance sheet, but neither do the other publicly traded cruise lines.
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