Jefferies cuts Vail Resorts target to $173, keeps Hold rating

Published 11/03/2025, 15:10
Jefferies cuts Vail Resorts target to $173, keeps Hold rating

On Tuesday, Jefferies analyst David Katz adjusted the price target for Vail Resorts (NYSE:MTN) stock, reducing it to $173 from the previous $190, while maintaining a Hold rating on the shares. The revision follows the company’s second-quarter fiscal year 2025 results, which surpassed analyst expectations. The stock, currently trading near its 52-week low of $151.99, has seen four analysts revise their earnings expectations downward for the upcoming period, according to InvestingPro data. Despite the better-than-anticipated performance, the firm’s updated guidance for the full fiscal year suggests that the current outlook for the company’s financial performance might already be reflected in the stock’s price, though InvestingPro’s Fair Value analysis suggests the stock may be slightly undervalued.

Vail Resorts’ recent earnings report indicated a strong quarter, with the $6.16 billion market cap company projecting 5% revenue growth for FY2025, yet the company’s forecast for the remainder of the fiscal year has led to a more cautious stance from Jefferies. The firm points out the inherent unpredictability of weather conditions as a significant risk factor, especially given Vail Resorts’ reliance on third-quarter volumes, which can be heavily influenced by seasonal variations. With a beta of 1.13, the stock shows slightly higher volatility than the broader market, while maintaining a notable dividend yield of 5.78%. For deeper insights into Vail Resorts’ financial health and growth prospects, InvestingPro subscribers have access to over 30 additional key metrics and analysis tools.

Katz also noted the potential in Vail Resorts’ extensive customer database, which he believes is an undervalued asset. The database could provide long-term value through increased cross-selling and upselling opportunities, leveraging the company’s existing customer relationships. This potential becomes particularly significant given the company’s current P/E ratio of 24.91x and its relatively tight current ratio of 0.63, suggesting room for operational efficiency improvements.

The analyst’s commentary underscores a balanced perspective on Vail Resorts’ stock, recognizing both the opportunities for growth and the risks associated with the business. The updated price target reflects this equilibrium, suggesting that while there may be positive aspects to the company’s strategy, there are also challenges that need to be managed carefully.

Investors and market watchers will likely continue to monitor Vail Resorts’ performance closely, taking into account the factors outlined by Jefferies, including the impact of weather on the company’s operations and the potential for customer database monetization. The stock’s movement will be influenced by these and other variables as the company progresses through the fiscal year.

In other recent news, Vail Resorts reported strong financial results for the second quarter of fiscal year 2025, with earnings per share (EPS) of $6.56, surpassing the forecast of $6.30. The company’s revenue reached $1.14 billion, meeting expectations, while Resort Reported EBITDA increased to $459.7 million from $425 million the previous year. Despite a 2.5% decline in season-to-date ski visits, lift ticket revenue rose by 4.1%, indicating effective pricing strategies. Vail Resorts reaffirmed its fiscal year 2025 Resort EBITDA target at $866 million, excluding a $7 million foreign exchange impact. Analysts at Mizuho (NYSE:MFG) Securities adjusted their price target for Vail Resorts to $215 from $227, maintaining an Outperform rating, while BofA Securities continued a Neutral rating with a price target of $185. Mizuho analysts noted a slowdown in February visitation, projecting a mid-single to high-single-digit decline in skier visits for the third quarter. The company remains focused on expanding its European market presence and launching pass sales for the 2025-2026 season.

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