PRSU
The tourist trap that’s actually working
Pursuit Attractions is having one of those rare corporate moments where the travel-themed story matches the numbers. The company was rated Buy after a strong 2Q26, with management leaning on outperforming acquisitions like Tabacon Resort, a beefier deal pipeline, and continued organic growth to lift the full-year revenue and EBITDA guide.
Why investors should care
This isn’t just “nice quarter, moving on.” The raised outlook matters because it suggests the company isn’t just buying assets and hoping for the best — it’s actually squeezing more juice out of them. That’s the kind of thing Wall Street likes almost as much as a fresh set of margin expansion slides.
Valuation: the stock still looks like it’s on sale
PRSU is trading at about 10.6x forward EV/EBITDA, roughly half its 2H25 peak. In plain English: the market may still be treating it like a mid-pack tourism play even as management is pointing to sector-leading EBITDA growth and a sturdier deal runway.
- Better-than-expected acquisitions are doing real work
- Management raised revenue and EBITDA guidance
- Asset upgrades and organic growth are still in the mix
- The valuation gap suggests upside if execution stays clean
Big picture: if Pursuit keeps turning scenic stops into actual earnings power, the market may have to stop underestimating the souvenir shop.