By Christiana Sciaudone
Investing.com — Vail Resorts (NYSE:MTN) rose close to 2% to a record after getting called a buy idea at Deutsche Bank (DE:DBKGn).
Demand for the mountain is pent-up, consumers are rolling in it and that should lead to explosive growth.
"We see MTN as being well positioned to tap into both of these themes, particularly since destination visitation to its western U.S. resorts (and Whistler) was subdued during the 2020-'21 ski season but appears poised to rebound strongly as Covid trends in the U.S. continue to trend lower," said analyst Chris Woronka, according to StreetInsider.
Earnings and sales got slammed by the pandemic with no one traveling for a long, long time. But that pent up demand has prompted shares to more than double since the start of the pandemic in March 2020.
"We also view the company's revised pricing strategy for the upcoming ski season as one that is likely to expand its base of pass holders and simultaneously drive incremental growth of ancillary revenue lines (including ski school, food and beverage, and retail/rental)," Woronka said.
The stock has only two buy ratings, six holds and no sells, according to data compiled by Investing.com.
Vail Resorts Hits Record as Deutsche Sees Pent-Up Demand
China's third-child policy boosts shares in toy, diaper makers
Abbott Slumps As Falling Covid Cases Reduce Demand For Tests