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Fly News Breaks for February 6, 2019
MTN
Feb 6, 2019 | 13:46 EDT
Stifel analyst Brad Boyer maintained a Hold rating and $215 price target on Vail Resorts following the announcement that Vail has reached a multiyear deal with the owner of Sun Valley Resort and Snowbasin Resort that allows Epic Pass holders to access the resorts starting with the 2019-2020 ski season. In a research note to investors, Boyer says he has "mixed emotions" on the announcement, and that while Snowbasin strengthens Vail's competitive positioning within the Utah market and Sun valley adds an "iconic" asset into the fold, he contends that growth is becoming harder to achieve for Vail as Epic Pass matures and "impactful" M&A in North America becomes harder to executive. Boyer says his core view on the Vail story remains unchanged.
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