UPDATE: Wells Fargo Upgrades Vail Resorts (MTN) to Outperform

Wells Fargo upgraded Vail Resorts (NYSE: MTN) from Market Perform to Outperform with ap rice target of $165-$180. Analyst Cameron McKnight said he can see a path to a $200 stock.

"We have rebuilt our model and updated estimates to account for this week’s (10/17) closing of the Whistler Blackcomb acquisition. Our FY17 EPS estimate goes to $5.68 from $4.90 and our EBITDA goes to $607MM. Our valuation range increases to $165-180/share, and we can see a path to $200 in an upside scenario," said McKnight. "While Vail has outperformed (MTN +21% vs. SPX +5% YTD), we see potential upside from a strong management team and fundamentals."

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

Shares of Vail Resorts closed at $154.67 yesterday.

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