1424 ET - JPMorgan sees potential downside risk for Norwegian Cruise Line Holdings from interest expenses, high fuel costs, and the potential for continued geopolitical strain. For 3Q results slated for October 29, the analysts suggest fuel costs will be higher than both the Street consensus and the company's implied guidance, with interest expense adding a 35 cent EPS headwind next year. They also cite possible downside risk to 2H27 net yield acceleration on "potential for prolonged geopolitical headwinds to constrain demand recapture in Europe noting 85% of Europe itineraries for NCLH are sourced from USA based customers--the highest across our cruise coverage." JPMorgan downgrades Norwegian Cruise Line to underweight from neutral, cutting the price target to $11 from $13. Norwegian Cruise Line is down 4.2% to $14.90.