Truist analyst Patrick Scholes lowered the firm’s price target on Vail Resorts to $262 from $292 and keeps a Hold rating on the shares after its Q2 earnings miss. The analyst notes that not many investors were expecting great results given the media headlines about resorts shutting down and road closures in the Lake Tahoe area combined with unusual warmth and low snowfall in the Northeast. Truist notes however that Vail Resorts’ results and guide also reflected challenges in paring- back costs fast enough in light of these issues, driving the earnings miss and guidance reduction.
Published first on TheFly
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