While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a look at particularly stock-shaking analyst upgrades and downgrades -- just in case their reasoning behind the call makes sense.

What: Shares of Vail Resorts (NYSE:MTN) climbed 3% today after Credit Suisse upgraded the ski resort operator from neutral to outperform.

So what: Along with the upgrade, analyst Joel Simkins raised his price target to $81 (from $71), representing about 12% worth of upside to yesterday's close. While value investors might be turned off by Vail's steady share-price climb in 2013, Simkins believes there's more room to run given his outlook for a solid 2013-2014 ski season.

Now what: Credit Suisse sees several factors working in Vail's favor. "Upgrading to Outperform and raising target price to $81 as we see a number of reasons to be more constructive on MTN heading into the season," said Credit Suisse. "The company faces an easy weather comp as snowfall was disappointing in '12/'13, the high-end consumer outlook remains robust, and demand from international travelers could exceed expectations." With Vail shares up about 50% from their 52-week lows and trading at a forward P/E of 40, however, it's hard to believe that those positives aren't already baked into the valuation. 

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends Vail Resorts. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.