Six Flags Entertainment (FUN) PT Lowered to $48 at Stifel

Stifel analyst Steven Wieczynski lowered the price target on Six Flags Entertainment (NYSE: FUN) to $48.00 (from $52.00) while maintaining a Buy rating.

The analyst commented, "Today’s [Thursday] sell-off seems totally irrational with way too much focus on the 1Q25 “miss”, which is somewhat irrelevant. Bears will point to the fact full-year EBITDA guidance is now going to be harder to achieve, thus why move on? We take the opposite view. FUN’s management (previous Cedar Fair management) is conservative in nature, and we can’t imagine them wanting to get aggressive with FY25 guidance given all the unknowns that are out in the marketplace currently. We view the maintained guidance as positive and point to the healthy April/season pass metrics as a reason to stay positive about how FY25 should finish. We continue to embed a moderate recession given the current cloudy macro backdrop. We believe FUN is one of the most oversold names we cover and believe investors have now priced in an almost worst-case scenario. We are buyers in front of their upcoming investor event."

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