Churchill Downs price target raised to $149 from $146 at Citizens

Citizens raised the firm’s price target on Churchill Downs (CHDN) to $149 from $146 and keeps an Outperform rating on the shares. The company delivered a solid quarter with a record $276M in discretionary free cash flow, helping stabilize a stock that has lagged peers amid prolonged headline risk, the analyst tells investors in a research note. With limited legislative impact this year and positive outlooks for horse racing growth and upcoming events like the Kentucky Derby, sentiment appears to be improving, the firm says.