KeyBanc Downgrades Intrawest Resorts (SNOW) to Sector Weight
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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.
Shares of Intrawest Resorts closed at $16.01 yesterday.
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