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Churchill Downs price target lowered to $138 from $144 at Citizens JMP

Citizens JMP lowered the firm’s price target on Churchill Downs (CHDN) to $138 from $144 and keeps an Outperform rating on the shares. Churchill Downs removed its historical racing machines in Louisiana, which are estimated to be worth $10M-$15M of EBITDA on an annual basis, the analyst tells investors. The firm sees mitigation efforts underway to claw back lost earnings.

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