Vail Resorts price target lowered to $166 from $176 at JPMorgan

JPMorgan analyst Matthew Boss lowered the firm’s price target on Vail Resorts (MTN) to $166 from $176 and keeps an Underweight rating on the shares following the company’s January season-to-date update. Vail’s season-to-date visitation is being pressured by normalization and peak periods, the analyst tells investors in a research note. The firm says that while the company’s weather tailwind and demand normalization headwind have largely played, management noted that it will have to get through the full season to understand if the participation rate in the sport is fully “re-set” exiting this year.