Guggenheim starts Six Flags with Buy with ‘positive catalysts ahead’

Guggenheim initiated coverage of Six Flags Entertainment (FUN) with a Buy rating and $52 price target Six Flags operates a portfolio of 27 amusement parks, 15 water parks, and nine resort properties across North America, the analyst tells investors in a research note. The firm believes the company has built a “strong differentiated theme park business with multiple growth levers and positive catalysts ahead.” Catalysts include management successfully integrating and realizing synergies from the new combined portfolio and attendance growing back towards historical levels, Guggenheim contends. The firm also sees room for Six Flags’ per-cap growth as regional theme parks remain an “entertainment bargain.”