NEW YORK (TheStreet) -- Cedar Fair (FUN) shares are up 1% to $47.29 in early market trading on Tuesday after the amusement park operator had coverage initiated with an "outperform" rating by analysts at Credit Suisse before the opening bell today.
The firm also set a price target of $53 on the stock which represents a potential upside of 12%.
The firm believes in the MLP structure of the Sandusky, OH-based company's portfolio of 11 amusement parks and four water parks while it also anticipates more opportunities for cash distribution as the U.S. economy continues to recover.
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TheStreet Ratings team rates CEDAR FAIR -LP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CEDAR FAIR -LP (FUN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."