Six Flags Rises as Demand Underestimated: Barron's
Investing.com
Published Jun 21, 2021 01:09PM ET
By Christiana Sciaudone
Investing.com -- Six Flags (NYSE:SIX) jumped more than 3% after Barron's reported things are looking up.
The recovery's coming faster than expected, as evidenced by first quarter results showing 1.3 million people went to the parks versus the Wall Street estimate of 600,000, Barron's said. And the summer season that just began is historically its strongest.
Six Flags stands to gain from pent up demand, but investors appear to be underestimating the impact on the company.
“We’re big believers that there’s still an opportunity here for a recovery trade,” says Stifel analyst Steven Wieczynski, according to Barron's. “People are leaving their homes now in droves, and they’re spending like crazy. We see that across everything we cover, from casinos, to cruise lines, to ski resorts: Customers are just armed with cash.”
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