Rosenblatt Starts SeaWorld Entertainment (SEAS) at Buy
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Rosenblatt analyst Barton Crockett initiates coverage on SeaWorld Entertainment (NYSE: SEAS) with a Buy rating and a price target of $92.00.
The analyst commented, "SeaWorld's shares more than doubled in 2021, versus a 27% rise in the S&P 500, and are up 10% YTD, compared to a 10% drop in the index. They've more than tripled since investor Scott Ross started in Dec. 2016 via his Hill Path acquiring a stake that is now over 35% and assuming the chairmanship. Ross' vision was that SeaWorld could be managed better, and more profitably. Despite pandemic headwinds that are still substantial, SeaWorld has achieved that in generating over $660 million of adj. EBITDA in 2021, versus a pre-pandemic trough of $300 million 2017. We see more to come, and launch coverage at BUY, with a $92 price target."
Shares of SeaWorld Entertainment closed at $71.10 yesterday.
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