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Fly News Breaks for January 10, 2020
SIX
Jan 10, 2020 | 10:19 EDT
Wells Fargo analyst Timothy Conder downgraded Six Flags Entertainment to Underweight from Equal Weight with a price target of $38, down from $42. The analyst earlier today downgraded the shares to Equal Weight from Overweight. Conder says Six Flags's preannouncement this morning of "disappointing" Q4 pass and membership trends add to his previous China concerns. The analyst, who again reduced his estimates for the company, sees no near-term upside catalyst and believes investors likely will not give Six Flags any near-term credit until clarity on domestic demand emerges. The stock in morning trading is down 18%, or $7.76, to $36.00.
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