Vail Resorts price target lowered to $263 from $268 at Stifel

Stifel lowered the firm’s price target on Vail Resorts to $263 from $268 and keeps a Buy rating on the shares. Vail reported Q2 resort adjusted EBITDA 4% below consensus, while lowering the midpoint of resort adjusted EBITDA guidance 5% below the low end of the initial range, the analyst noted. Management primarily cited weather and a shift to late-season, but also noted it is too early to determine if visitation trends indicate structural downside to out-year earnings power, says the firm, which trimmed its FY25 resort adjusted EBITDA estimate by 3%.