Mizuho lowered the firm’s price target on Vail Resorts (MTN) to $200 from $202 and keeps an Outperform rating on the shares. The firm views weather as an “obvious headwind” in the quarter. While utilization is a concern for renewals, Vail recently implemented a number of “unique pass tailwinds,” the analyst tells investors in a research note. Mizuho adds the company has a positive expense swing benefit next year on top of “very easy” comparisons in Colorado. It believes expectations are low for Vail.
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