NEW YORK (TheStreet) -- Shares of Six Flags Entertainment Corp (SIX) are rising, up 2.05% to $49.89 in early market trading Friday, after analysts at Wedbush initiated coverage of the company this morning.
The firm set an "outperform" rating on the amusement park operator with a price target of $58.
Wedbush analysts noted that they believe Six Flags will continue to grow at a faster rate than its competitors, in both the domestic and international markets.
The firm noted that Six Flags has the potential to "exceed the $600 million in modified EBITDA targeted for 2017."
Grand Prairie, Texas-based Six Flags Entertainment owns regional theme, water and zoological parks with thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets.
The company operates about 18 parks throughout the U.S., Mexico, and Canada.
Separately, TheStreet Ratings team rates SIX FLAGS ENTERTAINMENT CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SIX FLAGS ENTERTAINMENT CORP (SIX) a BUY. This is driven by several positive factors, 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, notable return on equity, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."