Six Flags Entertainment price target lowered to $52 from $56 at Truist

Truist analyst Michael Swartz lowered the firm’s price target on Six Flags Entertainment (FUN) to $52 from $56 and keeps a Buy rating on the shares as part of a broader research note on Theme Parks. Truist card data depicts some softening in early March, but this is, in part, a function of Easter calendar dynamics, the analyst tells investors in a research note. Truist adds that while its price target cuts are reflecting recent market volatility and multiple contraction, the sell-off in the group likely overstates the near-term earnings risk as trade-down dynamic could favor local entertainment operators.