KBW Has Outperform On Vail Resorts

KBW has an Outperform rating and a $58 price target on shares of Vail Resorts, Inc. MTN. In a note to clients, KBW writes, "MTN reported 3Q11 operating EPS $0.14 better than our outlook, with upside to our forecast driven by better ticket pricing. MTN's initiation of a $0.15 quarterly dividend underscores growing cash position and consistency of the business model. We are raising FY11 and FY12 estimates to reflect the 3Q11 beat, as well as our expectation for improving pricing trends. We estimate a 17% payout ratio." Shares of MTN gained $2.13 yesterday to close at $45.54, a gain of 4.9%.