Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Mizuho has reduced its price target on Six Flags Entertainment (NYSE:FUN) to $28.00 from $30.00 while maintaining an Outperform rating on the stock ahead of the company’s third-quarter earnings report. Six Flags currently trades at $22.70, significantly below this target and its 52-week high of $49.77. InvestingPro analysis suggests the stock may be undervalued compared to its Fair Value estimate.
The adjustment reflects Mizuho’s expectations for lower-than-anticipated attendance, particularly toward the end of the third quarter and the beginning of the fourth quarter of 2025. According to the firm, while the third quarter showed improvement for most of the period, foot traffic data suggests significant deceleration in September and October.
Mizuho now forecasts third-quarter attendance to be approximately flat year-over-year, indicating a mid-quarter slowdown compared to the first two months when Six Flags management had reported attendance was up 2% through August. Despite this deceleration, the overall third-quarter attendance appears to align with Mizuho’s original projections. With earnings scheduled for November 7 (just 3 days away), investors should note that InvestingPro data shows the stock has experienced high volatility, falling 12.59% in the past week alone.
For the fourth quarter, Mizuho has revised its attendance expectations downward to a 15% year-over-year decline. This reduction is attributed to disappointing October performance due to difficult weather comparisons, fewer operating days compared to last year, and an apparent underlying decrease in demand.
Despite these concerns, Mizuho maintains its Outperform rating on Six Flags, noting that sentiment is at or near bottom, with potential catalysts including management changes or strategic alternatives that could positively impact the stock. The broader analyst consensus aligns with this view, with an overall "Buy" recommendation according to InvestingPro data. The stock’s YTD decline of 52.89% suggests significant recovery potential if these catalysts materialize. For comprehensive analysis of Six Flags and 1,400+ other US equities, check out InvestingPro’s detailed Research Reports.
In other recent news, Six Flags Entertainment has been the focus of several significant developments. Texas Capital Securities raised its price target for Six Flags to $33.00 from $28.00, maintaining a Buy rating, following the acquisition of a 9% economic interest by activist investor JANA Partners and an investment group. This stake, valued at approximately $200 million, has prompted JANA Partners to team up with NFL star Travis Kelce to advocate for changes at Six Flags, including improvements in marketing, customer experience, and technology, as well as leadership refreshment and potential sale exploration. Additionally, Six Flags appointed Jonathan Brudnick, a partner at Sachem Head Capital, to its Board of Directors amid ongoing leadership changes, with Executive Chairman Selim Bassoul and Lead Independent Director Daniel J. Hanrahan set to step down by the end of 2025.
Meanwhile, Fang Holdings Ltd. announced a settlement in a derivative lawsuit filed in the New York State Supreme Court. The legal action, initiated by Oasis Investments II Master Fund Ltd. and Lorelei Ncc Inc. against certain Fang Holdings executives, concluded with a settlement agreement. Lorelei Ncc Inc. withdrew from the case during the proceedings. These developments reflect a period of strategic and legal adjustments for both Six Flags and Fang Holdings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.