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Fly News Breaks for July 9, 2019
SIX
Jul 9, 2019 | 08:03 EDT
As previously reported, Wells Fargo analyst Timothy Conder upgraded Six Flags to Outperform from Market Perform and raised his price target on the shares to $56 from $52. The analyst as believes concerns surrounding Q2 weather, China trade implications and dividend sustainability are fairly discounted. Further, he believes modest multiple re-expansion will come from potential upside catalysts of improved weather entering the key July/August months, likely upward Street revisions to China related estimates, and improved understanding of tax related cash flow items supporting the dividend/share repo beyond 2020.
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