Vail Resorts upgraded to Buy at Truist on attractive valuation

As previously reported, Truist analyst C. Patrick Scholes upgraded Vail Resorts to Buy from Hold with a price target of $290, up from $263. The stock has had several years of underperformance but now has reached an “attractive level”, the analyst tells investors in a research note. The firm also believes that the company is “fairly unique” in the domestic travel space, offering “real opportunity” for above inflationary pricing power for at least the next several years. Truist adds that it is modeling EBITDA growth rate of about 7.5% that is is predicated on 5.5% revenue growth and 4.5% expense growth.