Vail Resorts price target lowered to $178 from $197 at Morgan Stanley

Morgan Stanley analyst Megan Alexander lowered the firm’s price target on Vail Resorts (MTN) to $178 from $197 and keeps an Equal Weight rating on the shares. Fiscal Q2 results were “better-than-feared,” but the firm is still waiting for “a clearing event” as it argues that management letting through some initial embedded conservatism with its reiterated outlook, along with anticipated investor skepticism on embedded re-acceleration in visitation, may keep the stock in the “penalty box.”