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.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FUN:
- Cedar Fair reports Q1 EPS ($2.63), consensus ($2.31)
- Notable companies reporting before tomorrow’s open
- FUN Upcoming Earnings Report: What to Expect?
- Cedar Fair price target lowered to $45 from $48 at Truist
- SCHLITTERBAHN NEW BRAUNFELS WATERPARK TO OPEN NEW CHILDREN’S AREA FEATURING THE WORLD’S FIRST WATER COASTER FOR KIDS