JANCO Partners Downgrades Vail Resorts (MTN) to Accumulate; 14.6% Decline in Skier Visits

JANCO Partners downgraded Vail Resorts (NYSE: MTN) from Buy to Accumulate with a price target of $51.00.

Analyst, Tim Hamby, said, "The Company reported a 14.6% drop in skier visits due to below average snowfall. Despite the steep decline in skier visits, the Company was able to maintain relative stability across revenue lines in the quarter. We are encouraged that Vail Resorts was able to generate solid performance in less than ideal conditions, as these results reinforce the business model which aims to produce consistent results."

"Given the significant drop in skier visits, lowered guidance and lower than expected EBITDA in the second quarter, we are adjusting some of our estimates for the Vail Resorts in 2012. We are now forecasting the Mountain segment to generate $205 million in EBITDA for the year (from $216 mln)."

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 $44.68 yesterday.

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