B. Riley lowered the firm’s price target on Cedar Fair (FUN) to $50 from $56 and keeps a Buy rating on the shares. The company reported Q3 results that came in above expectations on the heels of the announced merger of equals with Six Flags Entertainment (SIX), the analyst tells investors in a research note. Even before any potential revenue or cost synergies following the proposed merger, the firm continues to believe Cedar Fair is well positioned to benefit from improving attendance trends in the years ahead of improving monetization of park guests against structurally higher post-pandemic levels.
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