UPDATE: Hilliard Lyons Upgrades Cedar Fair Entertainment to Buy on Pullback
Hilliard Lyons raised its rating on Cedar Fair Entertainment (NYSE: FUN) from Neutral to Long-term Buy with a $39 price target.
Hilliard Lyons commented, "We are raising our rating on FUN to Long-term Buy from Neutral based on a recent pullback in the unit price. The price is now at a level we believe gives FUN attractive total return potential. In our view, the unit price drop seems unrelated to company fundamentals, which we consider strong. We continue to like the business outlook, cash flow generation, the cash distribution policy, and the management team. Our Suitability rating remains 3 based on market capitalization and a fairly leveraged balance sheet."
Cedar Fair Entertainment closed at $33.36 on Monday.
Latest Ratings for FUN
|Apr 2016||Stephens & Co.||Initiates Coverage on||Equal-weight|
|Feb 2016||Credit Suisse||Assumes||Outperform|
|Feb 2016||Credit Suisse||Maintains||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.