BofA Reiterates Neutral, $45 PT On Vail Resorts

In a note out today, Bank of America reiterated a Neutral rating and $45 price target on Vail Resorts MTN, implying decent upside from current levels. "MTN's Tahoe resorts are still feeling the effects of no snowfall, with nothing new falling in the last 7 days. Based on our snow tracker, Heavenly has gotten just 17 inches of snow this ski season vs. 218 inches last year and 111 inches two years ago. This has led to a steady snow base of just 18 inches of machine made snow all season long, and the outlook does not get much better, with only a slight chance of snow on Sunday. We believe Tahoe metrics were worse than Colorado's in the reported results and expect this to continue," BofA said in the note. Shares of Vail Resorts are down fractionally today.