BofA analyst Shaun Kelley lowered the firm’s price target on Vail Resorts to $250 from $275 and keeps a Buy rating on the shares after the company reported fiscal Q2 EBITDA below the firm’s and the Street’s estimates, driven by challenging weather and operating conditions, mostly in the Northeast. Vail also lowered its FY23 EBITDA guidance driven by poor weather conditions and higher operating costs in the Northeast and storms and weather disruption in Lake Tahoe, noted the firm, which said operating deleverage in Q2 and visitation season-to-date are "weaker than we, management and investors anticipated."
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- Vail Resorts price target lowered to $222 from $232 at Barclays
- Vail Resorts lowers FY23 net income view to $282M-$328M from $321M-$396M
- Vail Resorts raises dividend 8%, increases share buyback authorization by 2.5M
- Vail Resorts reports Q2 EPS $5.16, consensus $6.10
- Vail Resorts Reports Fiscal 2023 Second Quarter Results, Increases Quarterly Dividend and Share Repurchase Authorization, and Provides Updated Fiscal 2023 Guidance