United Parks & Resorts price target raised to $84 from $75 at B. Riley

B. Riley analyst Eric Wold raised the firm’s price target on United Parks & Resorts (PRKS) to $84 from $75 and keeps a Buy rating on the shares. On the eve of the completed merger between Cedar Fair (FUN) and Six Flags Entertainment (SIX), the firm returned to United Parks & Resorts. United is a regional theme park stock “that has been seemingly left behind over the past eight months as investors increasingly focused on the opportunity to come from that merger,” the analyst tells investors in a research note. Given the “significant operational improvements” driven by United Parks management compared to pre-pandemic levels and the opportunity for continued increases with both attendance and per capita spending, Riley believes the shares are attractively valued at an 22% multiple discount to the average pre-merger multiple for Cedar Fair and Six Flags.