Deutsche Bank analyst Chris Woronka lowered his rating on Six Flags to hold from buy and lowered his price target to $27 from $29, implying upside of just 1%. Six Flags said in November 2023 the company would merge with Cedar Fair, with shareholders in the latter entity controlling the majority stake in the new company. "Although we continue to have confidence that the planned merger with FUN will be consummated, Buy-rated FUN (the surviving entity, in a new C-Corp structure in this otherwise merger of equals) is our preferred way to gain access to the anticipated benefits of the transaction," Woronka added. "However, in the near term, SIX's stock price should effectively remain tethered to that of FUN until the merger is consummated (or unexpectedly terminated) given the fixed exchange ratio, and we don't feel a need to effectively be "double long" the transaction, in the event that circumstances or expectations change," the analyst noted. Six Flags stock has ticked up nearly 7% in 2024.