Cedar Fair price target lowered to $42 from $50 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on Cedar Fair to $42 from $50 and keeps a Buy rating on the shares as part of a broader research note on Theme Parks. The firm is citing softening trends being observed in the June-July period, and while weather and environmental factors have likely played a role, concerns around demand and pricing during the critical summer visitation window will likely be “amplified”, the analyst tells investors in a research note. Truist adds however that the recent sell-off in theme park shares has effectively de-risked the space into the Q2 earnings prints.