UBS initiated coverage of Vail Resorts (MTN) with a Neutral rating and $185 price target After a decade of double-digit annual EBITDA growth prior to Covid, driven mostly by acquisitions, and with limited earnings accretion and limited same-store growth since 2018, Vail is entering a period of more measured EBITDA growth in the 3%-5% range, the analyst tells investors in a research note. UBS says that despite further pass product penetration which could counter some of the weather related uncertainty, it sees Vail’s visitation normalizing closer to 17.4M ski visits in fiscal 2025, implying further decline in underlying total visitations outside of Crans Montana acquisition.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MTN:
- Ex-Dividend Date Nearing for These 10 Stocks – Week of October 7, 2024
- Vail Resorts (MTN) Mounts Strategic Response to the Slippery Slopes of Climate Change
- Vail Resorts enters pact to develop West Lionshead into a fourth base village
- Vail Resorts falls -6.4%
- Vail Resorts price target lowered to $216 from $223 at Stifel
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
