Vail Resorts price target lowered to $242 from $248 at Morgan Stanley

Morgan Stanley analyst Megan Alexander lowered the firm’s price target on Vail Resorts to $242 from $248 and keeps an Equal Weight rating on the shares after challenging early season conditions led to Q2 results below expectations. A FY24 guidance reduction was expected, but was worse than anticipated, which is likely to pressure the stock despite muted expectations, says the analyst. The firm thinks the debate seems to be shifting to 2025, which has a wider range of outcomes than is typical at this point given limited clarity on “one-time” weather impacts, the analyst added.