CIBC World Markets Inc. cut its earnings estimates on Whistler Blackcomb Holdings Inc. (TSX: WB.TO) to $81.50 from $85.30.
The brokerage has a "Sector Performer" rating on the stock, with a price target of $11.00.
Whistler Blackcomb Holdings Inc. owns a 75 percent interest in each
of Whistler Mountain Resort Limited Partnership and Blackcomb Skiing
Enterprises Limited Partnership, which, together, carry on the four
season mountain resort business located in the Resort Municipality of
Whistler, British Columbia.
"We rate WB SP, balancing an attractive fully-covered 9.9% yield and
best-in-class assets with the potential for continued depressed
destination visits," CIBC analyst Alex Avery said in a note.
"Whistler opened Nov. 18 (six days early) and early indicators are
positive: +17% higher accommodation bookings Y/Y and rising destination
visitor demand. Regional demand is also strong. Improving visitor mix
(34% destination, 66% local/regional in F11) will be a key factor in
F12," Avery said.
The stock is up 0.71 percent to $9.97 on the Toronto Stock Exchange
on Thursday. The shares have been trading in the 52-week range between
$9.16 and $12.80.
