United Parks & Resorts initiated with an Equal Weight at Barclays

Barclays initiated coverage of United Parks & Resorts with an Equal Weight rating and $50 price target 0 The firm says “potential resiliency” in the current macro backdrop for the U.S. theme parks and steep share declines have left the shares attractively valued. However, for United Parks, the analyst has relatively low confidence in the multi-year trajectory for attendance growth. The company is embarking on another round of cost savings, which may further strain the guest experience at a time where there is outsized competitive risk from the opening of Universal’s new Epic park, the analyst tells investors in a research note.