Cedar Fair price target raised to $52 from $50 at Macquarie

Macquarie raised the firm’s price target on Cedar Fair (FUN) to $52 from $50 and keeps an Outperform rating on the shares after the company and its planned merger partner, Six Flags (SIX), each delivered “mixed” Q1 results. However, both are upbeat on the outlook based on early Q2 trends and say their merger is still on track to close in the first half of 2024, the analyst noted. The firm doesn’t see Q1 “materially changing” its thesis around standalone performance or a potential national merged network or pass, the analyst tells investors.