Wed Sep 18 05:26:51 UTC 2024: ## Cedar Fair Stock Target Lowered by JPMorgan Chase, Other Analysts Remain Bullish

**Sandusky, OH -** Shares of Cedar Fair (NYSE: FUN) saw their price target lowered by JPMorgan Chase & Co. from $48.00 to $43.00 on Monday, representing a potential upside of 3.56% from the current price. The firm maintains an “underweight” rating on the stock.

Despite JPMorgan’s more cautious outlook, other analysts remain optimistic about Cedar Fair’s future. Oppenheimer recently raised their target price on the stock from $49.00 to $67.00, assigning an “outperform” rating. Morgan Stanley also boosted their price objective from $55.00 to $65.00, giving Cedar Fair an “overweight” rating.

Other analysts have also revised their price targets in recent months. B. Riley lowered their target from $77.00 to $65.00, maintaining a “buy” rating. Citigroup lowered their target from $64.00 to $61.00, also maintaining a “buy” rating. Finally, Macquarie reduced their target from $64.00 to $60.00, assigning an “outperform” rating.

Overall, market analysts remain positive about Cedar Fair, with nine assigning a “buy” rating, two assigning a “hold” rating, and only one assigning a “sell” rating. MarketBeat.com currently rates the stock as a “Moderate Buy” with an average target price of $58.18.

Cedar Fair reported strong earnings for the quarter ending August 8th, exceeding analysts’ expectations. The company reported $1.08 earnings per share, surpassing the consensus estimate of $1.06. Revenue also outpaced estimates, reaching $571.62 million compared to the projected $525.57 million. Analysts predict Cedar Fair will post 2.78 EPS for the current year.

Several hedge funds have recently adjusted their positions in Cedar Fair. Goldman Sachs Group Inc. increased its holdings by 15.5% in the fourth quarter, while UBS Group AG significantly boosted their stake by 313.7%. New positions were also acquired by Jump Financial LLC and Brookstone Capital Management, while Wealth Enhancement Advisory Services LLC also increased their holdings. Institutional investors and hedge funds now own 64.65% of the company’s stock.

Cedar Fair operates a network of amusement and water parks across North America, including popular destinations like Cedar Point, Knott’s Berry Farm, and Kings Island.

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