Vail Resorts price target lowered to $146 from $152 at Morgan Stanley

Morgan Stanley analyst Megan Alexander lowered the firm’s price target on Vail Resorts (MTN) to $146 from $152 and keeps an Equal Weight rating on the shares. With certain financial updates provided last week alongside the CEO transition, the only new “news” from a fundamental perspective from yesterday’s report was the quantification of season-to-date pass sales, which are down 1% in units and up 2% in dollars, the analyst tells investors. The latter is “a bit disappointing” as it implies price/mix up 3% relative to a pass price increase of 7% and should mean FY26 estimates will come down, the analyst added in a note following the company’s Q3 report.