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Fly News Breaks for January 16, 2018
MTN
Jan 16, 2018 | 08:38 EDT
MKM Partners analyst Christopher Agnew lowered his price target on Vail Resorts to $252, citing the lowest recorded season-to-date snowfall in Vail, Beaver Creek and Park City ski parks in 30 years. The analyst also cuts his FY18 EBITDA to $616M from $668M, while forecasting Q2 skier visits to fall about 11% from the prior year. Agnew keeps his Buy rating on the stock however, saying that this headwind presents a buying opportunity for a "very high-quality business model", as many investors will take advantage of a pull-back in the stock price.
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