UPDATE: Janco Partners Upgrades Vail Resorts to Buy on Strong Second Quarter Results
In a report published Friday, Janco Partners upgraded its rating on Vail Resorts (NYSE: MTN) from Market Perform to Buy and raised its price target to $66.00.
Janco Partners noted, “Vail Resorts published strong second quarter results highlighted by significant top-line growth across key business segments due in large part to a much needed turnaround in ski conditions. The Company also released its 2013 Capital Plan which includes equipment upgrades, terrain expansion, EpicMix enhancements and investments in summer activities. We are encouraged that Vail Resorts has displayed resiliency in its performance despite facing such poor early season conditions. The Company's continued ability to deliver reinforces our view that it has in place an excellent management team that is committed to a proven strategy of prudently investing in its resorts and offerings while focusing on delivering a world class vacation experience. Following the Vail Resorts second quarter performance we are increasing our price target to $66, as well as upgrading our rating to Buy.”
Vail Resorts closed on Thursday at $60.82.
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