KeyBanc Downgrades Intrawest Resorts (SNOW) to Sector Weight

August 31, 2016 6:48 AM EDT
Get Alerts SNOW Hot Sheet
Price: $16.64 -0.89%

Rating Summary:
    3 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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KeyBanc downgraded Intrawest Resorts (NYSE: SNOW) from Overweight to Sector Weight and removed its price target. Analyst Scott W. Hamann said he now sees risk/reward as balanced.

"We are downgrading shares of SNOW from Overweight to Sector Weight following an impressive run exiting F3Q16 earnings. While we still believe that the weather outlook bodes well for the Company following lackluster snowfall last season at its eastern resorts and the currency dynamic remains favorable, as the USD/CAD is well-below realized rates last season, we believe these tailwinds are largely priced in at current levels and view the risk/reward as appropriately balanced," said Hamann.

For an analyst ratings summary and ratings history on Intrawest Resorts click here. For more ratings news on Intrawest Resorts click here.

Shares of Intrawest Resorts closed at $16.01 yesterday.

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