Vail Resorts shares fall after JPM downgrade, PT cut

Vail Resorts

07/06/2024 11:53

** Vail Resorts'  MTN.N  shares down ~8% at $177.50
premarket 
    ** J.P.Morgan downgrades resort operator's shares to
"underweight" from "neutral"
    ** Brokerage cuts PT to $176 from $217
    ** Normalizing industry trends, saturation of company's
season pass model, pricing push back seen as headwinds for Vail
- JPM
    ** 4 of 12 brokerages rate the stock "buy" or higher, 6
"hold" and 2 "sell"; median PT $219 - LSEG
    ** Vail shares down ~9% YTD

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com))