Vail Resorts price target lowered to $194 from $218 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Vail Resorts to $194 from $218 and keeps a Hold rating on the shares ahead of the July quarter results on September 26. The firm believes the company’s pass sales update is “unlikely to convert bears.” It thinks market chatter for the forthcoming update is mostly aligned around units down low-single-digits and sales dollars up low-single-digits. That would put Vail on a trajectory to achieve approximately 4% to 5% growth in lift ticket sales when combined with its revised forecast calling for less than 2% growth in skier visits in the 2024-2025 season.