Stifel raised the firm’s price target on Churchill Downs (CHDN) to $133 from $130 and keeps a Buy rating on the shares ahead of reported results on July 23. Shares have underperformed meaningfully year-to-date reflecting concerns on Kentucky Derby fundamentals and a gradual ramp for Churchill’s $460M “The Rose” development, the analyst says. Stifel sees potential catalysts for improved sentiment at Q2 earnings, and recommends owning the stock into the Q2 report.
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