Stifel lowered the firm’s price target on Vail Resorts (MTN) to $183 from $217 and keeps a Buy rating on the shares after the company reported season-to-date metrics through April 20 and indicated that North America season-to-date skier visits decelerated modestly since the Q2 update. Vail now expects FY25 Resort Adjusted EBITDA in the lower half of the prior guidance range and while downside risk to FY25 guidance was likely appreciated, and the buyside was already skeptical of guided reversion to growth in pass sales, the firm views the late-season update as “clearly disappointing,” the analyst tells investors.
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Read More on MTN:
- Vail Resorts Reports Mixed Ski Season Metrics
- Vail Resorts: Season-to-date total skier visits were down 3.1% y/y
- Vail Resorts sees FY25 Resort Reported EBITDA in lower half of guidance range
- Vail Resorts price target lowered to $160 from $185 at BofA
- Vail Resorts: Hold Rating Amid Mixed Visitation Trends and Economic Pressures