Wells Fargo raised the firm’s price target on Churchill Downs (CHDN) to $130 from $124 and keeps an Overweight rating on the shares. The firm’s long-term view on U.S. land-based gaming is unchanged. In its 2026 outlook, Wells said a benign regional supply environment could normalize promotional spend, but this should be more than offset by land-based gaming ceding share to digital gaming. The firm prefers whole-company operators with competitive moats and/or development opportunities. Wells is generally in-line with the Street on Regional EBITDA/R in light of solid Q1 gaming trends.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHDN:
- Ohio lawmaker introduces bill to increase gambling taxes, News 5’s Trau reports
- Appeals court rules NJ can’t stop Kalshi bets on sports, Reuters says
- Churchill Downs price target lowered to $139 from $143 at Jefferies
- Churchill Downs says court rules HISA acted in ‘arbitrary manner’
- Nevada reports February statewide gaming win up 1.5% to $1.24B