02:28 PM EDT, 06/11/2024 (MT Newswires) -- Cedar Fair's ( FUN ) is poised for a "solid" Q2 amid favorable weather, pricing and progress on the merger with Six Flags Entertainment ( SIX ) , Oppenheimer said Tuesday in a report.

The Midwest and California account for 50% of Cedar Fair's ( FUN ) annual earnings before interest, tax, depreciation and amortization, and the weather has been promising, the report said. "The pricing environment has remained stable," and Cedar Fair ( FUN ) raised admission prices at most of its parks, Oppenheimer said

The Six Flags Entertainment ( SIX ) merger is on track for a H1 closing with conversations "constructive" with the Department of Justice, the report said. "The cost synergy goal of $120 million is reasonable," Oppenheimer said.

Oppenheimer maintained its outperform rating on Cedar Fair's ( FUN ) stock and the $49 price target, remaining bullish on "the operational and synergy upside."

Shares of Cedar Fair ( FUN ) rose 1.2% in recent trading Tuesday.

Price: 44.4`, Change: +0.53, Percent Change: +1.21