Vail Resorts price target raised to $182 from $179 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Vail Resorts to $182 from $179 and keeps an Equal Weight rating on the shares ahead of the company reporting Q4 earnings tomorrow after the close. For FY25, the firm expects guidance to come in below the Street consensus and is lowering its own estimates below the Street to reflect its view that the negative revisions over the last twelve months were driven more by industry demand normalization than unfavorable weather. However, the firm acknowledges “a guide down is likely expected by the market at this point,” while adding in its preview that favorable stock seasonality and weather forecasts calling for a La Nina season “suggest a hope trade could emerge post earnings.”