FBR Capital Raises Price Target on Cedar Fair L.P. (FUN) to $68; Reiterates Outperform

FBR Capital reiterated an Outperform rating on Cedar Fair (NYSE: FUN), and raised the price target to $68.00 (from $60.00).

Analyst Barton Crockett commented, "In a persistently low global interest rate environment, we believe stable, high-yielding dividend stocks can become more attractive. We put Cedar Fair, currently with a 5.5% annualized dividend yield, in that camp. As a result, we believe it can support a higher multiple, and we raise our price target accordingly, to $68 from $60."

For an analyst ratings summary and ratings history on Cedar Fair click here. For more ratings news on Cedar Fair click here.

Shares of Cedar Fair closed at $61.55 yesterday.

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