Vail Resorts price target lowered to $244 from $253 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Vail Resorts to $244 from $253 and keeps a Hold rating on the shares. While the company’s January quarter results came in a bit better than Deutsche’s Street-low forecasts on revenue and EBITDA, management cut the fiscal 2024 guidance by nearly $70M or 7% and warned that visitation has not rebounded as strongly as expected in some markets despite improved snowfall post President’s Day weekend, the analyst tells investors in a research note. The firm believes market is “likely to ponder renewed concerns” about the impact that increasingly frequent bouts of poor snowfall could ultimately have on advance pass sales further out in the future.