** Shares of amusement park operator Six Flags Entertainment Corp FUN.N rise nearly 5% to about $15.6 premarket

** Truist Securities upgrades FUN's rating to "buy" from "hold", cuts PT to $23 from $27

** New PT still represents a 54.7% upside to the stock's last close

** "New CEO, with significant experience in theme park operations, sounds promising" - brokerage

** FUN recently named John Reilly, who has three decades of experience in the amusement and recreation industry, as CEO

** Truist says there is "no denying FUN has issues", but doesn't expect bankruptcy in the near or mid-terms as some in the media have suggested

** Eleven of 16 brokerages rate the stock "buy" or higher, four "hold" and one "sell"; their median PT is $25; according to data compiled by LSEG

** As of last close, shares down 69.1% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))