Susquehanna said it's "setting sail" on Norwegian Cruise Line .
The firm downgraded its rating on Norwegian Cruise Line shares to neutral from positive.
To be sure, Stathoulopoulos highlighted various enterprise initiatives and efforts toward changing the company's core culture.
He added that the company is "leaving no stone unturned" toward cost-cutting measures across the board.
"While we view NCLH's 'soft' long-term plan as strategically sound, absent a more formal or explicit long-term guide … and given lingering macro uncertainty, we see better risk/reward in peer [Royal Caribbean]," Stathoulopoulos added.
Persons:
Susquehanna, NCLH RCL, Christopher Stathoulopoulos, Harry Sommer, Stathoulopoulos, — CNBC's Michael Bloom
Organizations:
Cruise Line, Royal, Cruise
Locations:
—, Caribbean