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Fly News Breaks for January 11, 2019
MTN
Jan 11, 2019 | 10:29 EDT
As previously reported, BofA/Merrill downgraded Vail Resorts to Neutral from Buy and cut its price target to $200 from $260 following lowered guidance. Analyst Shaun Kelley said this was Vail's first major earnings miss not related to snowfall in many years and could represent customer mix and spend issues, and or pricing strategy. Kelley said if customer behavior is changing, it represent further risk to estimates and expects a further deceleration in pass sales growth ahead.
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