Stifel analyst Steven Wieczynski maintained a Buy rating on Six Flags but cut his price target on the shares to $46 from $56 after the company announced that its Chinese development partner continues to face "severe" challenges related to the weakened macroeconomic environment and declining real estate values throughout China. Wieczynski said that while the stock was once pitched as the "ultimate growth and yield stock," it is "quickly" starting to look like a no growth company with an unsustainable yield. The analyst noted that news of the Chinese partner's default should not come as a surprise to investors, as the situation has been well documented over the past several weeks, leading to multiple downgrades from his sell-side peers. The analyst added that he is "severely" cutting estimates after the news.