Cedar Fair price target raised to $49 from $47 at Citi

Citi analyst James Hardiman raised the firm’s price target on Cedar Fair to $49 from $47 and keeps a Buy rating on the shares. The analyst assumes an ongoing slowdown for theme park demand in in 2023, but he thinks the sector "will prove to be fairly resilient" in what he thinks will be a "shallow recession." Cedar Fair remains the best long-term risk/reward tandem in the group, while Six Flags arguably has the most near-term upside and a variety of paths to upside given a "controversial" premiumization strategy and a real estate-driven activist story, Hardiman tells investors in a research note.