Peak Resorts Inc SKIS 27% is at the top of the Macquarie rating hill after news broke that its EB-5 program has been approved. Macquarie analyst Matthew Brooks says the resulting release of EB-5 investment money will likely fix any liquidity issues and gave the company the double-bump to Outperform from Underperform.
EB-5 Money Released From Escrow
The EB-5 program is designed to attract foreign investment by offering immigrants who invest the opportunity to become a permanent U.S. resident. The company can now access $12 million of $52 million in EB-5 investments held in escrow until now.
Sky-High Growth Projections
Macquarie expects better weather will lead to a slightly cooler than average Northeast this year, resulting in a 50 percent rise in skier visits and a 34 percent rise in sales.
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