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Six Flags downgraded to Hold at Jefferies ahead of ‘transition’ Q3
The Fly

Six Flags downgraded to Hold at Jefferies ahead of ‘transition’ Q3

As previously reported, Jefferies analyst David Katz downgraded Six Flags to Hold from Buy with a price target of $24, down from $32. He believes "a more conservative approach is warranted" based on the increasingly negative economic outlook and his expectations for a "transition" Q3, Katz tells investors. Though the multiple remains "historically low" and he believes long-term upside is still possible, near-term earnings power is challenged as the prospects for a recession impacting growth in 2023 drives his revision to "below-consensus estimates," Katz said.

Published first on TheFly

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