Stifel analyst Steven Wieczynski contends that Norwegian Cruise Line shares are trading at a "seemingly ridiculous valuation" ahead of the company's Q2 report and he continues to see a meaningful disconnect between that valuation and the strength he sees in the prevailing booking environment and his expectations for the company's EPS growth trajectory. The analyst, who thinks the company's occupancy and pricing trends give management ammo to "tease a full-year EPS guidance raise," reiterates his Buy rating and $70 target price on Norwegian shares.