Goldman Sachs Starts Cedar Fair (FUN) at Buy

Goldman Sachs initiates coverage on Cedar Fair (NYSE: FUN) with a Buy rating and a price target of $81.00.

Analyst Christopher Prykull sees undeveloped land adjacent to company parks hold potential to drive improvement to FCF if developed and believes the NPV of that FCF equates to roughly 14% of the current market cap. He expects the company to beat estimates and drive a re-rating of it's multiple upward thus driving shares higher.

His FY 2017 EPS estimate is $3.63, FY 2018 EPS is $3.89 and FY 2019 EPS estimate is $4.15

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 $68.04 yesterday.

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