Investing.com -- Vail Resorts Inc 's (NYSE: MTN ) season-to-date snowfall is up about 50% year-on-year, with favourable weather conditions boosting expectations for strong holiday visitation, Morgan Stanley (NYSE: MS ) said in a note.

Snowfall at Vail’s major resorts, including those in the West and at Whistler, has surpassed last year’s levels, with about 55% of terrain open as of Dec. 22, compared to 34% a year ago.

The Northeast and Midwest also reported improved conditions, with over 40% of terrain open versus just 6-22% at the same time last year.

Morgan Stanley highlighted a near-term trading opportunity for the stock, which has fallen 6% since Dec. 10. The brokerage pointed to the potential for improved visitation trends, driven by strong early season snow and easier year-over-year comparisons, ahead of Vail’s mid-January update.

Lift tickets, which contribute 30-40% of lift revenue and are highly sensitive to weather, could drive upside to Vail’s earnings, the note said.