Vail Resorts (MTN) Initial Pass Sales, Most Important Bogey for Earnings This Thursday - Stifel

Stifel analyst Steven Wieczynski reiterated a Hold rating and $274.00 price target on Vail Resorts (NYSE: MTN) ahead of F3Q earnings on 6/9 AMC.

The analyst stated "Given the timing of MTN's late-season update (4/25) and mostly inline end-of-season closing timelines, we don't expect a material surprise for F3Q actuals. Healthy leisure demand F4QTD and record snowfall to start the Australian ski season present potential upside to FY22 guidance, though potentially balanced by continued inflationary pressures. Regardless, we expect stock reaction will depend more on MTN's initial pass sales figures. Anecdotally, investor expectations for pass unit growth have improved more recently. However, pull-forward into the spring period likely proves elevated with mix and discounting potentially weighing on the total dollar value figure. Hence, we remain cautious despite improving expectations. While MTN remains a candidate for a flight-to-safety trade amidst elevated macro concerns, we reiterate Hold on valuation, overly discounted
inflationary pressures, and an increasingly mature N.A. pass program."

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 $260.10 yesterday.

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