** Shares of Six Flags Entertainment FUN.N up 3% at $29.14 early Weds, and looking to snap a four-session losing streak, after UBS issues bullish report on the amusement park operator
** UBS starts coverage of FUN with 'buy' rating and PT of $49, which is ~73% above stock's last close
** FUN shares down sharply from Jan highs reflecting investor concern over consumer health and uncertain economic backdrop, UBS says, noting that the industry is "relatively macro resilient as a more affordable out-of-home entertainment option", especially amid inflationary fears
** UBS says FUN likely to beat both its and the Street's EBITDA estimate given upside to rev synergies post merger with Cedar Fair
** The analysts say PT based on 8x their anticipated FY26 EBITDA of $1.2 bln
** UBS also starts coverage of United Parks & Resorts PRKS.N, formerly SeaWorld Entertainment, at 'neutral'
** Even with advance on the session, FUN shares down ~40% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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