Six Flags Entertainment (NYSE:SIX) may face a smaller financial hit from the fatal Georgia coaster accident than the market is pricing in, UBS said as it lowered its price target to $18 from $27. A 42-year-old guest was ejected from the Goliath coaster at Six Flags Over Georgia on Oct. 12, and other guests were injured.
The stock slumped to $9.98 a share – its lowest level this year and on track for its worst closing price since 2009 – as Six Flags temporarily shuttered nine coasters across six of its parks following the tragedy.
One person died and several others were injured in the incident at Six Flags Over Georgia, according to reports, citing local police. The after-hours plunge marked a sharp reversal from regular trading, when shares closed 4.5% higher.
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