UPDATE: BofA Securities Upgrades Vail Resorts (MTN) to Buy
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BofA Securities analyst Shaun Kelley upgraded Vail Resorts (NYSE: MTN) from Neutral to Buy with a price target of $350.00.
The analyst comments "We think Vail is a consumer industry pioneer as it relates to data analytics and marketing and this is the next step in its evolution to drive a step-function change in season pass usage and adoption that can ultimately be rewarded with higher earnings, valuation or both. We maintain our $350 PO based on ~18x 2022E EBITDA."
Shares of Vail Resorts closed at $278.35 yesterday.
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