Churchill Downs price target lowered to $124 from $126 at Susquehanna

Susquehanna analyst Joseph Stauff lowered the firm’s price target on Churchill Downs (CHDN) to $124 from $126 and keeps a Positive rating on the shares. The firm noted shares are lower since its Q2 earnings report due largely to a slower than expected ramp at Dumphries, outside Washington DC versus regional economic concerns including DOGE and the government shutdown, a VA-based government approach to shutting down illegal machines that is inconsistent, and the slowdown in regional casino trends in September following a stronger than expected summer. Susquehanna believes shares are cheap at current levels.