Stock Track | United Parks & Resorts Plummets 5.13% Intraday After Stifel Downgrade on Cost Pressures
Stock Track
May 12
United Parks & Resorts' stock plummeted 5.13% during intraday trading on Tuesday, following an analyst downgrade.
Stifel downgraded the entertainment company's rating to "hold" from "buy" and cut its price target to $40 from $43, citing ongoing cost pressures and persistent operational missteps that have weighed on confidence in the company's near-term outlook. The brokerage also noted that the company's first-quarter revenue missed Wall Street estimates.
Despite the downgrade, Stifel sees potential upside in the second half of the year if costs remain disciplined, aided by easier comparisons, firmer bookings, and a slow return of international demand.
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