Vail Resorts (MTN) PT Raised to $175 at BofA Securities

BofA Securities analyst Shaun Kelley raised the price target on Vail Resorts (NYSE: MTN) to $175.00 (from $160.00) while maintaining a Neutral rating.

The analyst comments "Vail Resorts (ticker: MTN) announced on Tuesday that Rob Katz will be reappointed CEO of the company, replacing Kirsten Lynch. Mr. Katz served as CEO of Vail for 16 years from 2006–2021 and since then, he has stayed engaged as Executive Chairperson of the Board. During his prior tenure, Katz pioneered tremendous growth for the company including the launch of the Epic Pass, data driven marketing centered on advanced commitment, and transformative M&A. Bottom Line: The immediate transition shows a sense of urgency and shares were up more than 10% in the after-market on the news. While we expect more clarity on key priorities on the FQ3 call, our sense is re-accelerating revenue growth is top of mind. We raise our PO to $175 based on 11x FY25 EBITDA (10.5x prior) to reflect market rerating."

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