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Fly News Breaks for January 17, 2019
SIX
Jan 17, 2019 | 07:21 EDT
Oppenheimer analyst Ian Zaffino lowered his price target for Six Flags to $68 from $80 to reflect peer multiple compression and lower expectations for the higher-multiple, and assetlight International business. The analyst anticipates "solid" Q4 results, helped by favorable weather comps and 20% more operating days from the Mexican Waterpark, Magic Mountain, Chicago HIP and EPR. Further, the stock tends to outperform in the offseason and, despite its recent run since December lows, the performance is still below the 8-year average, he contended. With that said, Zaffino tempers his expectations for International, owing to Chinese economic weakness and Dubai delays. He reiterates an Outperform rating on the shares.
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