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UPDATE: Bank of America Raises PT on Vail Resorts Following Solid Season Pass Sales, FY14 Guidance


In a report published Monday, Bank of America analyst Shaun C. Kelley reiterated a Buy rating on Vail Resorts (NYSE: MTN), and raised the price target from $72.00 to $76.00.

In the report, Bank of America noted, “Following solid season pass sales and FY14 guidance, we are raising our FY14E and FY15E Resort EBITDA to $286M and $318M from $280M and $312M, resp. Our new numbers take into account better than expected pass sales at the newly acquired Canyons plus better op leverage in the lodging segment. Based on our new estimates, we are raising our PO to $76 from $72, which continues to represent 9.5-10x our FY15E resort EBITDA.”

Vail Resorts closed on Friday at $69.59.

Latest Ratings for MTN

Dec 2020William BlairDowngradesOutperformMarket Perform
Nov 2020Janney CapitalDowngradesBuyNeutral
Nov 2020Exane BNP ParibasInitiates Coverage OnOutperform

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