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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MTN:
- MTN Earnings: Vail Resorts Stumbles as Q2 Earnings Miss Estimates
- Vail Resorts Welcomes New Board Member Reginald Chambers
- Vail Resorts Reports Fiscal 2024 Second Quarter Results, Increases Quarterly Dividend, and Provides Updated Fiscal 2024 Guidance
- Options Volatility and Implied Earnings Moves Today, March 11, 2024
- Vail Resorts (MTN) Q2 Earnings Cheat Sheet