Cedar Fair price target lowered to $40 from $43 at Citi

Citi analyst James Hardiman lowered the firm’s price target on Cedar Fair to $40 from $43 and keeps a Neutral rating on the shares ahead of the Q3 report. Following a Q2 in which all three leisure companies disappointed on the attendance line, July and August were actually a bit worse than June based on Citi’s foot traffic tracker, whereas September was significantly better, especially for Six Flags, the analyst tells investors in a research note. Conversely, the firm’s pricing trackers suggest a deteriorating per-cap environment into 2024.