United Parks & Resorts (PRKS) PT Lowered to $54 at Guggenheim

Guggenheim analyst Curry Baker lowered the price target on United Parks & Resorts (NYSE: PRKS) to $54.00 (from $56.00) while maintaining a Buy rating.

The analyst comments "We have updated our model and outlook to reflect 4Q results and management's forward-looking commentary. United Parks reported 4Q revenue and adjusted EBITDA of $374mm (vs. our $388mm estimate) and $115mm (vs. our $131mm), respectively. The quarter was impacted by lower international visitation and fewer operating days compared to the year prior (excluding these two items attendance would have been flat). The net impact of weather for 4Q was essentially flat. Management noted guests continue to spend once in the park (record 4Q in-park per caps), Discovery Cove advance booking revenue is up high single digits, and company-wide group booking revenue is pacing up over 50% - PRKS does not currently believe there are any structural issues with consumers. Looking ahead to this year, we assume PRKS will benefit from more normalized weather, flat-to-positive per-cap increases, the benefit of new rides/attractions, and ongoing cost discipline. We forecast 2026 EBITDA of $607mm, down from $659m prior. PT down to $54 (from $56)."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Aurora Spine settles patent dispute, secures $600K insider loan
• Phillips 66, Marathon Merger Talks Collapsed - Semafor