Citi raised the firm’s price target on Six Flags (SIX) to $28 from $26 and keeps a Buy rating on the shares. While the post-Halloween Q4 period is fairly immaterial for the theme parks, traffic trends showed signs of resilience to finish out 2024, with pricing data more mixed, the analyst tells investors in a research note. Based on the share price outperformance of Six Flags over Cedar Fair (FUN) since the merger news, Citi thinks investors could be expecting another suitor to emerge on Six Flags. However, the spread has closed as the deal moves closer to completion, with the deal calendar starting to take shape, the firm adds.
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