As previously reported, BofA analyst Shaun Kelley downgraded Vail Resorts to Neutral from Buy with a price target of $250, down from $285 as the firm sees the setup as “more challenging from here.” The firm cites risk to FY24 guidance as visitation remains weak, risk to FY25 estimates as year-over-year organic growth is slower than anticipated and valuation risk with strong pricing but weak weather-adjusted organic growth.
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