Vail Resorts price target lowered to $160 from $185 at BofA

BofA lowered the firm’s price target on Vail Resorts (MTN) to $160 from $185 and keeps a Neutral rating on the shares. Noting that the company is expected to report late season ski metrics this week or the week of April 28, the firm thinks Vail is at risk of moving to the low end of their FY25 Resort EBITDA guidance of $841M-877M. The firm lowered its own FY25 Resort EBITDA estimate to $845M from $854M, noting that its data shows season-to-date visitation down 3.6%, but this does not include Easter.