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.