UPDATE: Six Flags Entertainment (SIX) PT Lowered to $32 at Jefferies, Removed from Franchise Pick List

Jefferies analyst David Katz lowered the price target on Six Flags Entertainment (NYSE: SIX) to $32.00 (from $60.00) while maintaining a Buy rating.

• Removed from Franchise Pick list.

The analyst comments "With attendance of 15% below 2019 and costs equal to 2019, we believe the 2Q22 downside is self-inflicted rather than from industry or macro, as the strategic shift brought the risk of early stage volatility. We believe SIX's business model and assets are more productive than the 2Q22 demonstrated and patience is the right course. Our flat 2022-24 estimates and low-end valuation still imply upside. Removing from Jefferies Franchise Pick List but Reiterate Buy."

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