United Parks & Resorts (PRKS) PT Lowered to $51 at Guggenheim

Guggenheim analyst Curry Baker lowered the price target on United Parks & Resorts (NYSE: PRKS) to $51.00 (from $54.00) while maintaining a Buy rating.

The analyst commented: "We have updated our 2Q outlook to reflect a number of negative trends: 1) overall weather was neutral-to-slightly negative relative to last year (details below), 2) Orlando continued to face tough y/y tourism trends (in addition to overall Orlando trends, we see Epic and international visitation as ongoing headwinds to PRKS), and 3) we believe macro trends modestly worsened throughout the quarter (inflation, gas prices). The net impact of our changes has lowered our estimates for attendance (now 6.047mm, down 3% y/y, vs 6.296mm prior), revenue (now $485mm vs $505mm prior), and EBITDA (now $185mm vs $203mm prior). We forecast 2026 EBITDA of $584mm, down from $607m prior. PT down to $51 (from $54)."

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