Stock price when the opinion was issued
Expecting further growth of travel.
Poor winter conditions impacting share price.
Very strong assets with best ski hills in the business.
Strong free cash flow with steady dividend.
Good value proposition with season's pass.
Stock price currently undervalued - good time to buy.
It was a winner until 2021 when it peaked, but has slid since. It still hasn't bounced back. Had a disappointing 2023-4 season, which the company blamed on lack of snow. However, season pass sales are floundering, because they have been pumping up skiing prices. Also, they suffered a 2-week strike in Utah which hurt shares. Last spring, shares fell to Covid levels. Last week, MTN changed CEOs. Q3-2025: -7% YOY skiier visits, +3% resort revenue YTD and +8% raised prices YOY. People spent more money on ancillary services. They posted in-line revenue and an earnings beat. Guidance mentioned tariff unknowns. Shares then sold off. The turnaround could take a while, though MTN is cheap at under 20x PE now. But MTN needs to do something, like cut prices.