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MTN

Vail Resorts

$228.53

2.715 (1.20%)

, SKIS

Peak Resorts

$10.85

5.71 (111.09%)

10:03
07/22/19
07/22
10:03
07/22/19
10:03

Vail Resorts acquisition of Peak Resorts a 'win-win,' says Stifel

Stifel analyst Brad Boyer notes that Vail Resorts (MTN) announced it has entered into an agreement to acquire Peak Resorts (SKIS) for $11 per share, a deal he views as a "win-win" for both parties. In the case of Peak Resorts, the company is obtaining what he believes to be the fair market value of its assets for its shareholders. Boyer is "equally as upbeat" on the merits of the announcement for Vail Resorts' stakeholders, as he believes key items will directly accrue to their benefit over time, namely the $60M pro-forma EBITDA number management established, the geographic location of Peak's portfolio that should provide a nice "network effect" boost to Vail's season pass program, and Vail's bigger size and relationships that should draw additional third-party capital into the Mount Snow base and surrounding areas.

MTN

Vail Resorts

$228.53

2.715 (1.20%)

SKIS

Peak Resorts

$10.85

5.71 (111.09%)

MTN Vail Resorts
$228.53

2.715 (1.20%)

04/26/19
RHCO
04/26/19
INITIATION
Target $242
RHCO
Buy
Vail Resorts initiated with a Buy at SunTrust
SunTrust analyst C. Patrick Scholes initiated Vail Resorts with a Buy rating and a price target of $242, saying the "much improved" snow conditions in 2018-19 that followed two bad years bodes well for the "destination visitor who was hesitant to visit" at the start of the season. The analyst expects the traffic to carry over to the 2019-20 season with a "materially improved" customer demand. Scholes also sees Vail Resorts stock as an "epic way" to play the "global wealth effect."
04/26/19
04/26/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Vail Resorts (MTN) initiated with a Buy at SunTrust. 2. Tocagen (TOCA) initiated with an Overweight at Cantor Fitzgerald. 3. Dow Inc. (DOW) initiated with a Hold at Argus. 4. Gilead (GILD) initiated with an Outperform at Bernstein. 5. Reed's (REED) initiated with a Buy at Lake Street. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/19
RHCO
06/07/19
NO CHANGE
Target $247
RHCO
Buy
Vail Resorts price target raised to $247 from $242 at SunTrust
SunTrust analyst C. Patrick Scholes raised his price target on Vail Resorts to $247 after after its Q3 earnings beat and raise, adding that the sales increase of 13% vs. expectations of high-single-digit growth should generate some multiple expansion for the stock. The analyst also keeps his Buy rating on the company, stating that after "stellar" snow conditions last season, next year should set up very positively for Vail Resorts' attendance by the "all-important destination visitors".
07/15/19
WELS
07/15/19
INITIATION
Target $230
WELS
Market Perform
Vail Resorts resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Marc Torrente resumed coverage of Vail Resorts with an Outperform rating and $230 price target. Caution around growth rate sustainability and competition, along with limited near-term catalysts caps his valuation multiple at the high-end of the recent trading range, he contends. While acknowledging a constructive long-term view on the company and business model, Torrente says he holds a more conservative near-term outlook on the pace/cost of growth against difficult comps and ongoing competitive pressure.
SKIS Peak Resorts
$10.85

5.71 (111.09%)

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