02:35 AM EDT, 05/09/2024 (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 trim our 12-month target to $56 from $61, on 2024 EV/EBITDA of 7.3x, near the low-end of PRKS's long-term trading range of 7x-12x. We lift our 2024 EPS to $4.51 from $4.44 and 2025's to $4.83 from $4.78. PRKS posts Q1 GAAP EPS of ($0.17), $0.11 above consensus. Revenue of $297M (+1.4% Y/Y) was $13M above consensus. Adj-EBITDA rose 9.3% Y/Y to $79M vs $60M consensus, with margin widening 190 bps Y/Y to 26.6%. Attendance rose by 2.1%, benefiting from the timing of Easter and spring break at schools. Additionally, lower operating expenses also drove record adj-EBITDA. However, unfavorable weather and the opening of SeaWorld Abu Dhabi led to lower total revenue per capita (-0.7%). Moreover, both admissions per capita and in-park per capita spending fell by 0.9% and 0.5%, respectively. While PRKS shares may still be undervalued, we don't see new catalysts driving further valuation upside, especially if the recovery for group and international visits, along with better weather conditions, fails to materialize.