B.Riley FBR analyst Eric Wold reiterated a Buy rating on Cedar Fair (FUN) today and set a price target of $60. The company’s shares closed last Monday at $56.03, close to its 52-week high of $56.58.
Wold observed:
“We remain positive on our regional theme park coverage universe—which also includes SeaWorld Entertainment (SEAS—Buy; $37 PT) and Six Flags Entertainment (SIX—Buy; $70 PT) —and are reiterating our Buy rating on FUN with an unchanged $60 PT and attractive 6.6% tax advantaged distribution yield.”
According to TipRanks.com, Wold is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.8% and a 34.1% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
Currently, the analyst consensus on Cedar Fair is a Moderate Buy with an average price target of $62, which is a 10.7% upside from current levels. In a report issued on August 22, SunTrust Robinson also upgraded the stock to Buy with a $64 price target.
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The company has a one-year high of $56.58 and a one-year low of $45.58. Currently, Cedar Fair has an average volume of 310.9K.
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Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.
