Bank of America/Merrill Lynch Upgrades Vail Resorts to “Buy”; Summer Initiatives Paying Off (MTN)

By Staff,

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Ski resort operator Vail Resorts, Inc. ( MTN ) on Friday received a big upgrade from analysts at Bank of America/Merrill Lynch.

The firm boosted its rating on MTN from "Neutral" to "Buy" with a $57 price target. That target suggests a nearly 19% upside to the stock's Thursday closing price of $47.95.

Bank of America/Merrill Lynch noted the company is realized higher prices and that summer initiatives are paying off.

Vail shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Vail Mountain Resorts ( MTN ) have a 1.56% dividend yield, based on last night's closing stock price of $47.95. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $50-$53 price levels.

Vail Resorts, Inc. ( MTN ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: MTN

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