This Is What Bears Have Wrong When It Comes to United Parks
Shares of United Parks Resorts (NYSE: PRKS) rose 5% on Wednesday after posting better-than-expected first-quarter results. Though, it wasn't enough to sway all the naysayers to the bullish camp. Let's welcome Ben Chaiken from Mizuho to the Splash Zone.
The analyst initiated coverage of the theme park operator two months ago, tagging it with an Underperform rating and a price target of $47. He's raising his price goal on shares of the company formerly known as SeaWorld Entertainment to $48 following the financial update, but the stock itself jumped $2 higher on Wednesday.
Is he underestimating the potential for the operator of SeaWorld, Busch Gardens, Sesame Place, and several water parks to have a strong summer? Is his concern about a rival opening a major new theme park next year overblown? Let's hop on and secure the coaster restraints. We're going for a ride.
Source Fool.com
