Stock Track | United Parks & Resorts Plummets 5% as Citi Slashes Price Target

Stock Track
Nov 10

United Parks & Resorts (PRKS) saw its stock plummet by 5.07% in early trading on Monday, following a significant price target cut by a Citi analyst. The move highlights growing concerns about the company's near-term prospects in the competitive theme park and resort industry.

Citi analyst James Hardiman reduced the firm's price target on United Parks & Resorts to $40 from $55, representing a substantial 27% decrease. This dramatic reduction in the expected value of the company's shares has clearly spooked investors, leading to the sharp sell-off in early trading sessions.

Despite the lowered price target, Hardiman maintained a Neutral rating on the stock, suggesting a balanced view on the company's future performance. The decision to cut the price target while keeping the rating unchanged may indicate that while the analyst sees potential headwinds for United Parks & Resorts, they do not believe these challenges warrant a more bearish stance at this time.

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