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Fly News Breaks for September 22, 2016
SEAS
Sep 22, 2016 | 05:29 EDT
Citi analyst Jason Bazinet upgraded SeaWorld Entertainment to Buy saying the risk/reward looks attractive at current share levels. The analyst sees two silver linings from the dividend elimination announced on September 20. SeaWorld said it could buy back stock, which suggests the company did not violate debt covenants, Bazinet tells investors in a research note. Second, the company could use the previous dividend cash to help lift attendance in 2018 and beyond, the analyst writes. He maintains a Buy rating on SeaWorld. The stock closed yesterday up 16c to $12.28.
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