UPDATE: Bank Of America Reiterates On Vail Resorts On Mountain Of Opportunity Ahead

In a report published Monday, Bank of America analyst Shaun C. Kelley reiterated a Buy rating on Vail Resorts (NYSE: MTN), and raised the price target from $80.00 to $92.00.

In the report, Bank of America noted, “MTN remains one of our favorite ideas and is entering its typical summer/fall period of stock outperformance. We believe the story is changing and it is time to revisit MTN's evolving business and growth opportunities: particularly its complicated but potentially lucrative lease and litigation in Park City, Utah. With FY14 almost complete, we are raising our price objective to $92 from $80, which is based on 12.0x our FY15E EBITDA (similar to its FY14 multiple), and reiterate our Buy rating.”

Vail Resorts closed on Friday at $75.56.