Vail Resorts price target lowered to $265 from $290 at Truist

Truist lowered the firm’s price target on Vail Resorts to $265 from $290 but keeps a Buy rating on the shares after its Q2 earnings miss and guidance cut. Investors were not expecting anything great from the company this earnings given the well-telegraphed weak year-to-date snowfal andl with the company already coming out in January and saying FY24 earnings would be in the bottom-half of the previously guided range, the analyst tells investors in a research note. Truist adds however that the company’s FY24 EBITDA guide coming down 7% at the midpoint of the range is also “several percentage points below expectations”.