Citizens JMP analyst Jordan Bender lowered the firm’s price target on Churchill Downs (CHDN) to $144 from $157 and keeps an Outperform rating on the shares. Churchill Downs reported revenue and EBITDA in line with consensus expectations in Q1, with the “noisy” quarter including adverse weather and early stages of “hesitancy” coming from the consumer, the analyst tells investors in a research note. The firm came away from the earnings report with a slightly less favorable outlook for the company, but remains confident in the long-term growth drivers of the business.
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Read More on CHDN:
- Churchill Downs price target lowered to $124 from $125 at Barclays
- Churchill Downs Reports Record Revenue Amid Income Dip
- Churchill Downs project pause could be positive, says Citizens JMP
- Churchill Downs: Strong Q1 Performance and Strategic Capital Management Justify Buy Rating
- Churchill Downs to pause multi-year projects, cites uncertainty
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