Hi guys,Thought you'd like, courtesy of FN ArenaCIMB Securities...

Hi guys,

Thought you'd like, courtesy of FN Arena

CIMB Securities 18-Feb-14
It appears to CIMB that theme parks Main Event and health clubs have sustained renewed vigor in January, continuing the acceleration in revenue witnessed in the second quarter. Main Event stood out in the first half, recording growth from portfolio expansion and operating leverage. In the broker's view this stands the company in good stead for FY15 and FY16, with six and four Main Event additions planned, respectively.
CIMB has decided the time is ripe for an upgrade and has raised the recommendation to Add from Hold. The price target is raised to $2.40 from $2.00.

Upgrade to Add from Hold
Macquarie 18-Feb-14
The broker liked the momentum seen in Main Event and anticipates almost all the 13-14% earnings growth forecast for FY15 and FY16 will come from Main Event. Main Event provides exposure to a US recovery and translation benefits from a lower Australian dollar. The Gold Coast theme parks are also expected to benefit from a recovery in inbound and/or domestic tourism.

The rating is upgraded to Outperform from Neutral and the price target is raised to $2.30 from $1.80.
Upgrade to Outperform from Neutral
JP Morgan 18-Feb-14
Ardent's result broadly met the broker's forecast. Main Event and Bowling outperformed the broker's numbers but Health Clubs fell short. The issue for the broker is AAD's 34% share price rise over 12 months which brings it in line with valuation.

Downgrade to Neutral. Target falls to $2.06 from $2.15.
Downgrade to Neutral from Overweight
Deutsche Bank 18-Feb-14
The first half was solid, in the broker's view. Deutsche Bank is positive, with the outlook underpinned by improving leisure market conditions in Australia and the US and the expansion of the Main Event and health club networks.

As the stock is trading near the revised price target - raised to $2.20 from $2.00 - the Hold rating is retained.

............................................

Seems like CIMB and MQG's upgrades are showing a bit more juice. My earlier prediction of $2.50 looking good. However, I'll admit my somewhat caution on Monday has made me looking somewhat a bit conservative. I've enjoyed a bloody good ride on this, so always sceptical.

Also on YMYC last night all three analysts were positive. They reiterated the short AUD exposure and translation affect, as well as the leisure sector benefiting from tourism associated with a falling Aussie. Comparisons were made to the gambling sector, and the high multiple that CWN trades on, although they were very quick to dismiss that this stock should be comparable to Crown. General feeling was a good technical pattern and the fundamentals aligning. Let's hope for good times ahead.

Cheers