United Parks & Resorts price target lowered to $56 from $57 at JPMorgan

JPMorgan lowered the firm’s price target on United Parks & Resorts to $56 from $57 and keeps a Neutral rating on the shares. In the near-term, the firm continues to see a “concentrating consumer” backdrop creating a bifurcated setup within the leisure sector as consumers prioritize spending based on value and experience and product. JPMorgan sees cruise winning share relative to land-based alternatives, including theme parks. As a result of a constrained consumer backdrop and “static” traffic and volume growth at theme parks, fieldwork points to increased promotional activity across venues and parks to drive consumer traffic, the analyst tells investors in a research note.