Fly News Breaks for August 22, 2019
Aug 22, 2019 | 07:28 EDT
As previously reported, SunTrust analyst Michael Swartz upgraded Cedar Fair to Buy and raised his price target to $64 from $54. The analyst notes that while the stock has rallied about 10% in August, he believes that the gains still do not fully reflect the company's revenue and margin catalysts, accelerating free cash flow generation over the coming few years, and potential near-term M&A synergies from the recent Schlitterbahn acquisition. Swarts adds that over the past 19 years, Cedar Fair stock outperformed the broader S&P500 by an averagge of 10% during the September to March period.
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