Jefferies Reiterates Buy on Vail Resorts

Jefferies is out with its report today on Vail Resorts MTN, reiterating Buy. In a note to clients, Jefferies writes, "MTN reported a solid quarter as pricing power returns and ancillary revenue continues to improve. The results and the capital return through a dividend are confirmation that the company's strategies are working and it is following through with the Street. We believe MTN's long term prospects remain strong and we reiterate our BUY rating as the company will likely continue to pursue shareholder friendly actions." Jefferies maintains a $63 PT on MTN. Shares of MTN closed Thursday at $45.54.