Stifel raised the firm’s price target on Cedar Fair to $57 from $50 and keeps a Buy rating on the shares. Last quarter was "a disaster by all accounts" from an expense standpoint, but this quarter shows that "management heard those expense rumblings loud and clear and took the necessary steps to improve profitability," the analyst tells investors. Based on management’s tone and commentary, Stifel doesn’t see a reason why margins can’t move higher again and eventually get close to pre-pandemic levels, the firm added.
Published first on TheFly
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