Six Flags Entertainment (FUN) PT Raised to $33 at Texas Capital Securities

Texas Capital Securities analyst Eric Wold raised the price target on Six Flags Entertainment (NYSE: FUN) to $33.00 (from $28.00) while maintaining a Buy rating.

The analyst comments "We return to Six Flags Entertainment Corp. (FUN) following confirmation late in the afternoon on Tuesday, 10/21, that JANA Partners and an investment group (including NFL player Travis Kelce and two accomplished consumer and technology executives) have accumulated an economic interest of ~9% in the company. While the letter published by JANA Partners near the close of the market did not provide any strategic plans and only indicated its desire to work with the FUN board and management team to unlock shareholder value, we believe this involvement has the potential to accelerate some of the upside opportunities that we identified in our recent initiation of coverage (see here). We are reiterating our Buy rating and raising our PT to $33 from $28."

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