UPDATE: Stifel Nicolaus Raises PT to $60 on Vail Resorts on Ski Season Expectations

Stifel Nicolaus reiterated its Buy rating on Vail Resorts

and increased its price target from $53 to $60. Stifel Nicolaus commented, "We are raising our estimates and target price on shares of Vail Resorts, Inc. as we continue to believe the upcoming 12/13 ski season will positively surprise in terms of visitation/spending. … We believe there will be significant pent-up demand from visitors who were unable/didn't want to visit last year due to the lack of snowfall. We are encouraged by recent commentary from Whistler Blackcomb

who recently reported strong season pass sales for the upcoming season and believe the same type of demand will be witnessed at all of MTN's properties." Vail Resort closed at $51.89 on Wednesday.