Vail Resorts price target raised to $197 from $182 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Vail Resorts (MTN) to $197 from $182 and keeps an Equal Weight rating on the shares. In what the firm calls “a relatively in-line print,” Q1 EBITDA was better than consensus, though about in-line with management expectations. The firm, which adds that it sees “more upside than downside risk at this point,” says the company offered better-than-expected pass sales and encouraging early season commentary, but FY25 resort EBITDA guidance being reiterated is “likely prudent given it is still early along with mixed commentary on Whistler.”