Morgan Stanley downgraded Six Flags (FUN) to Equal Weight from Overweight with a price target of $20, down from $30. The firm has concerns about the company’s EBITDA recovering off the 2025 lows in 2026 due to cyclical and secular factors. Six Flags’ lower than expected pricing power amid rising concerns on low-end consumers add risk to the company’s timeline on rebuilding attendance, the analyst tells investors in a research note.
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