As previously reported, Texas Capital initiated coverage of United Parks & Resorts with a Buy rating and $63 price target The firm sees an attractive opportunity for significant operating leverage and profitability given that it believes the “meaningful improvements” in guest monetization in recent years should be structural, the analyst tells investors. The firm expects new park development in Orlando to provide an incremental demand tailwind for SeaWorld Orlando in the region, as well as help the company to regain the lost international visitation, the analyst added.
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