UPDATE: FBR Capital Upgrades SeaWorld Entertainment
In a report released Friday, FBR Capital analyst Barton Crockett upgraded SeaWorld Entertainment (NYSE: SEAS) from Market Perform to Outperform and raised its price target from $21 to $26.
Analysts at FBR Capital believe SeaWorld will benefit from its recent effort to aggressively promote its brand via social media and to redeem its negative publicity in regards to animal treatment. SeaWorld will attempt to promote more of natural orca environments at three of its parks from 2018 to 2022, inducing costs of $100 million each.
SeaWorld Orlando is the only other park out of SeaWorld's 11 parks that have experienced revenue declines. FBR Capital links Orlando's poor performance to new attractions at competitor parks such as Disney and Universal. SeaWorld Orlando anticipates new attractions in the future and increasing the rate of international visitors in Orlando parks.
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