Cedar Fair downgraded to Neutral from Buy at Citi

Citi analyst James Hardiman downgraded Cedar Fair to Neutral from Buy with a price target of $41, down from $50. The analyst also opened a “negative catalyst watch” on the shares ahead of the Q2 report. Disappointing visitation trends for much of last year leaves the threat of yet another miss on the attendance line in Q2, the analyst tells investors in a research note. The firm continues to like Cedar Fair’s assets and believes in the company’s long-term opportunity, but is moving to the sidelines until expectations better reflect what is “shaping up to be lackluster trends in late spring/early summer.”