BofA analyst Shaun Kelley lowered the firm’s price target on Vail Resorts (MTN) to $165 from $175 and keeps a Neutral rating on the shares after the company reported Q4 revenue and Resort EBITDA slightly below the firm’s estimates and reported Epic pass units down 3% and dollars up 1%. Given the short operating season and pass selling cadence, the firm thinks it could take time to see the impacts of changes made in Rob Katz’s return as CEO, the analyst tells investors.
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