Six Flags downgraded to Hold from Buy at Jefferies

Jefferies downgraded Six Flags (FUN) to Hold from Buy with a price target of $25, down from $41. The firm sees uncertainty following the company’s Q2 miss due to prospects for a protracted leadership and strategy change. Further, the suspension of Six Flags’ three-year outlook, along with the CEO transition, call into question its earnings power, the analyst tells investors in a research note. Jefferies prefers to watch Six Flags’ “repetitive leadership changes from the sidelines.”