Shares of SeaWorld Entertainment (SEAS) were lower by 4.66% to $18 in early morning trading on Friday, following a rating downgrade to "sell" from "neutral" at Citi. The firm reduced its price target on the stock to $15 from $19.

The downgrade comes as Citi sees risks, including competition from Universal and continued weakness from Latin America, to the company's expected EBITDA rebound in 2017 and 2018.

SeaWorld has been struggling since public perception about keeping killer whales and other marine mammals in captivity has shifted in light of allegations of mistreatment and improper care, as well as the four human deaths by captive orcas. 

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