Credit Suisse Initiates Outperform, $56 Target on Vail Resorts

Credit Suisse initiates coverage on Vail Resorts (NYSE: MTN) with an Outperform rating and a target price of $56 per share, as it sees upscale vacationers not foregoing their ski getaways. Credit Suisse notes, ": Visitation trends at Vail's resorts have been resilient; despite concerns about discretionary leisure travel. The company's differentiated marketing capabilities, same-store reinvestments and advanced purchase programs have helped it gain market share plus generate more predictable revenue. We prefer companies with exposure to high-end consumers. Given that Vail's typical customer has an income exceeding $200,000, the company is favorably positioned." MTN closed at $42.69 per share on Friday.