SeaWorld Upgraded To Buy From Neutral At Goldman Sachs

Goldman Sachs analyst Christopher Prykull upgraded SeaWorld Entertainment (SEAS) to Buy from Neutral and raised his price target for the shares to $39 from $31.

The stock closed yesterday down 11c to $29.20.

The company's ongoing revenue optimization efforts are still being underappreciated by the market, Prykull tells investors in a research note. Further, SeaWorld's announced cost cuts will support its earnings near-term while a "budding capital allocation story" will further enhance shareholder value, adds the analyst.

Meanwhile, according to Prykull, the shares trade at a discount to amusement park peers. He sees a favorable risk/reward for SeaWorld. 

Disclosure: None

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.