Analyst James Hardiman of Citi maintained a Buy rating on Six Flags Entertainment Corporation, retaining the price target of $33.00.
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James Hardiman has given his Buy rating due to a combination of factors influencing Six Flags Entertainment Corporation’s current market position. The recent push by Land & Buildings Investment Management, a significant shareholder, to monetize Six Flags’ real estate assets through a REIT spin-off is a central element. This strategy aims to unlock substantial shareholder value, with potential upside projections ranging from 75% to 130% if executed successfully.
Additionally, despite the stock’s recent underperformance due to merger challenges and adverse weather conditions, the company’s historically low valuations present an attractive entry point for investors. The ongoing changes in Six Flags’ leadership and board, coupled with constructive discussions on real estate monetization, suggest a favorable environment for future growth. These factors collectively underpin Hardiman’s optimistic outlook and Buy rating for the stock.
According to TipRanks, Hardiman is a 4-star analyst with an average return of 9.9% and a 50.18% success rate. Hardiman covers the Consumer Cyclical sector, focusing on stocks such as Brunswick, Camping World Holdings, and Thor Industries.
In another report released on September 15, UBS also reiterated a Buy rating on the stock with a $34.00 price target.