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Fly News Breaks for March 17, 2017
SEAS
Mar 17, 2017 | 06:03 EDT
Citi analyst Jason Bazinet downgraded SeaWorld Entertainment to Sell and cut his price target for the shares to $15 from $19. The theme park and entertainment company closed yesterday up 26c to $18.88. Strength in the U.S. relative to the Brazilian Real suggests a sharp rebound in Latin American attendance is unlikely, Bazinet tells investors in a research note. Further, the analyst believes Universal's opening of Volcano Bay in Florida could hurt SeaWorld's 2018 EBITDA by $15M. Bazinet sees risk to consensus EBITDA estimates for SeaWorld.
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