Six Flags upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Six Flags (SIX) to Overweight from Equal Weight with a price target of $32, up from $29. The analyst remains bullish on U.S. regional theme parks shares at current levels, with a view that industry revenue growth accelerates in 2024 and drives outperformance amid macro concerns. The firm upgraded Six Flags to align with its views on the pending merger with Cedar Fair (FUN). The combined company presents attractive growth, with opportunity to unlock a revenue recovery story at Six Flags, the analyst tells investors in a research note.