Stifel analyst Steven Wieczynski raised the firm’s price target on Six Flags (SIX) to $32 from $30 and keeps a Buy rating on the shares. Three weeks after Six Flags and Cedar Fair (FUN) announced they were combining in a merger of equals, the firm provided updated thoughts on the combined company, assuming the deal closes, and made adjustments to both its models and updated price targets for each. The firm, which believes the deal will get done in its current proposed form, sees “significantly more value in owning shares” of Six versus Cedar and believes the current risk/reward in Six shares is “overly compelling” based on current trading levels, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SIX:
- Foot Locker downgraded, Zillow initiated: Wall Street’s top analyst calls
- Six Flags downgraded to Neutral from Buy at Rosenblatt
- Boeing upgraded, Arm initiated: Wall Street’s top analyst calls
- Six Flags upgraded to Buy from Hold at Jefferies
- Six Flags price target lowered to $28 from $30 at Macquarie