12:25 AM EST, 02/29/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price to $61 from $51, on a 2024 EV/EBITDA of 7.2x, near the low end of PRKS's long-term trading range of 7x-12x, reflecting the risk of sluggish revenue growth. We lower our 2024 EPS to $4.44 from $4.70 and start 2025's at $4.78. PRKS posted Q4 adj-EPS of $0.82, $0.07 above consensus. Revenue of $389M (-0.4% Y/Y) was $7M below consensus. Adj-EBITDA fell 2.1% Y/Y to $150M, in line with consensus, with margin contracting 68 bps Y/Y to 38.7%. Total revenue per capita fell 0.9%, driven by lower admission per capita (-2.6%), partly offset by higher attendance (+0.5%) and in-park per capita spending (+1.5%). In our view, there are lingering concerns over near-term demand, even with PRKS's plans for new attractions, pricing growth, and increased marketing in 2024. Nonetheless, we believe PRKS's planned cost savings ($50M in 2024), proposed buyback program ($500M), and the potential recovery in group and international visits (-30% vs. 2019) currently offer a favorable risk/reward tradeoff.