In the latest SeaWorld (NYSE:SEAS) news, the company’s stock is surging more than 3% on Friday following an upgrade from a major financial firm as the prospect of growth seems very real for the brand moving forward.
A team of analysts with Goldman Sachs announced an upgrade for SEAS stock, which they have now labeled with a Buy rating, an increase from its previous Neutral rating. The firm has a positive outlook on the Orlando, Fla.-based amusement park business and its growth potential.
The Goldman analyst team specifically said that it sees the company’s revenue optimization efforts as paying handsome dividends moving forward for SeaWorld. Additionally, the firm said that the theme park operator’s plans to increase its cost efficiency has real potential to provide the company with a strong tailwind.
The firm assigned a price target of $39 to the company in order to represent an upside potential of 34%. The 52-week high for SeaWorld is currently $32.73. The rest of the sell-side community and SA Authors have given the company Outperform ratings, while the Seeking Alpha Quant Rating on the business is Very Bullish.
SEAS stock is up about 3.2% on Friday following the news. Shares are now selling for around $30.14 a share as of late afternoon on Friday. Shares were selling for $22.14 about six months ago, which goes to show that SeaWorld’s turnaround efforts are moving in the right direction.