UPDATE: Goldman Sachs Upgrades Cedar Fair (FUN) to Conviction Buy

Goldman Sachs upgraded Cedar Fair (NYSE: FUN) from Buy to Conviction Buy with a price target of $69. Analyst Afua Ahwoi noted fundamental and seasonal opportunity.

"On fundamentals, we view that FUN fits into the three investment strategies the Goldman Sachs’ portfolio strategy team expects to outperform in 2016: high exposure to domestic sales, margin expansion, and relatively strong balance sheet. FUN is also exposed to the right end market: the US leisure traveler," said Ahwoi.

"From a seasonal perspective, we find that amusement park stocks tend to outperform the market heading into the season," added the analyst.

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 $53.19 yesterday.

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