Six Flags price target lowered to $28 from $30 at Macquarie

Macquarie analyst Paul Golding lowered the firm’s price target on Six Flags (SIX) to $28 from $30 and keeps an Outperform rating on the shares. The firm published its merger model on Cedar Fair (FUN) plus Six Flags. Its analysis implies a $59 per share pro forma value for the merged entity. If synergies come through, there is “far more upside potentially available,” the analyst tells investors in a research note. Macquarie keeps an Outperform rating on Cedar Fair with a $50 price target. Both companies continued to deal with adverse weather in Q3, while strong season pass selling reflects healthy demand, contends Macquarie.