UPDATE: Stifel Nicolaus Downgrades Vail Resorts to Hold on Limited Upside
In a report published Friday, Stifel Nicolaus analyst Steven Wieczynski downgraded the rating on Vail Resorts (NYSE: MTN) from Buy to Hold.
In the report, Wieczynski noted, “We are downgrading shares of Vail Resorts from Buy to Hold, as we believe recent share price appreciation (MTN +49% vs. S&P 500 +17% since late-May) offers limited (~6%) upside to the $66 fair equity value derived from our sum-of-the-parts valuation analysis. Furthermore, with shares sitting just below their all-time trading high of $66.25 achieved in October 2007 and the loss-leading shoulder quarters on the horizon, we believe investors could look to lock in profits as the 2012/13 ski season draws to a close, potentially making for a soft near-term trade.”
Vail Resorts closed on Thursday at $61.75.
Latest Ratings for MTN
|Oct 2016||Wells Fargo||Upgrades||Market Perform||Outperform|
|Apr 2016||Sterne Agee CRT||Initiates Coverage on||Buy|
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