J.P. Morgan analyst Daniel Politzer has maintained their bullish stance on CHDN stock, giving a Buy rating on October 3.
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Daniel Politzer has given his Buy rating due to a combination of factors that highlight Churchill Downs’ strong growth potential and strategic positioning. The company anticipates significant EBITDA growth from the Derby next year, driven by a new NBC deal and returns on recent investments. Additionally, Churchill Downs is expected to announce a new capital expenditure project, which could further enhance its growth trajectory.
Regional demand remains stable, and the opening of the Roseshire property in Virginia has shown promising results, with performance metrics aligning with the company’s targets. Furthermore, Churchill Downs is strategically managing its capital, planning to continue stock repurchases while maintaining a healthy net leverage ratio. These factors, combined with expected benefits from tax changes, contribute to a positive outlook for the company’s financial performance.