Viad price target raised to $54 from $41 at Oppenheimer

Oppenheimer analyst Tyler Batory raised the firm’s price target on Viad (VVI) to $54 from $41 and keeps an Outperform rating on the shares following quarterly results. The firm’s forecasts for 2024 and 2025 moved higher due to a better-than-expected Q3 and faster recovery in Jasper. Oppenheimer thinks the strength in Pursuit outside of Jasper is evidence of Viad’s strong offerings in iconic destinations. The sale of GES and the transition into a pure play attractions and hospitality company should also support a higher valuation multiple, the firm adds.