Six Flags Entertainment (FUN) PT Lowered to $17 at Jefferies

Jefferies analyst David Katz lowered the price target on Six Flags Entertainment (NYSE: FUN) to $17.00 (from $20.00) while maintaining a Hold rating.

The analyst comments "FUN Remains a Wild Ride. We remain cautious on FUN, and update our FY26 Adj. EBITDA estimate to $865M (Street low, -10% vs. prior). We believe current Street expectations and our prior estimates included expense control/synergies benefits requiring management execution beyond the obvious merger combination redundancies. We are also challenged by the repeated changes in corporate leadership and strategies that limit valuation. We forecast FY27 attendance, revenue, and Adj. EBITDA ~3%, ~4%, and ~9% below consensus, respectively. Finally, the buyout of SFOG in FY27 brings capital uncertainties similar to the recent refi of $1B at 8.625% vs. 5.75%. Reiterate Hold."

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