Riding High? Six Flags Remains Credit Suisse's Top Theme Park Pick

In a report published Friday, Credit Suisse analyst Joel Simkins maintained an Outpeform rating and price target of $58 on Six Flags Entertainment Corp (NYSE: SIX). The stock is the analyst's Top Theme Park Pick.

"SIX remains one of most frequently called-upon names across our entire gaming, lodging, and leisure coverage universe. We continue to see significant LT upside with a management team dedicated to driving shareholder value," Simkins explained.

The analyst also believes that the company would be able to beat the consensus in Q2, despite the impact of the weather on performance. The analyst estimates attendance of 8.9 million during 2Q15, which is expected to be the primary driver of the EBITDA outperformance, compared to the consensus expectations.

Following visits to six theme parks operated by different companies, the analyst believes that "the core demographic feels better about the economy and was generally willing to spend on ancillaries."

"Factoring out weather, results from SIX should show pricing and attendance strength, as well as better in-park spend," the Credit Suisse report added.

The analyst expects investors to look beyond the weather to the commitment of the management to execute on Six Flags' business plan.