UPDATE: Credit Suisse Starts SeaWorld Entertainment (SEAS) at Neutral

(updating comment)

Credit Suisse analyst Benjamin Chaiken initiates coverage on SeaWorld Entertainment (NYSE: SEAS) with a Neutral rating and a price target of $13.00.

The analyst comments "As the coronavirus situation develops, we think SEAS is in a more difficult position than peers, given its reliance on international and other “fly-to” guests, as well as a more rigid cost base. In total, we forecast EBITDA will decline from $457mm in 2019 to $163mm in 2020. Longer term, SEAS faces significant competitive capital from peers, which we show has historically hurt attendance."

For an analyst ratings summary and ratings history on SeaWorld Entertainment click here. For more ratings news on SeaWorld Entertainment click here.

Shares of SeaWorld Entertainment closed at $16.97 yesterday.

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