Stifel Boosts Churchill Downs Price Target to $133, Maintains Buy Rating

Stifel has raised its price target for Churchill Downs (CHDN) to $133, maintaining a Buy rating. Despite underperformance this year, there is optimism for a shift in market sentiment ahead of Q2 earnings. Analysts forecast an average target price of $132.84, with a high estimate of $154.00 and a low estimate of $115.00. The average target implies an upside of 24.38% from the current price of $106.80.

Stifel Financial has increased its price target for Churchill Downs Incorporated (CHDN) to $133, maintaining a Buy rating. This move comes ahead of the company's second-quarter earnings report, scheduled for July 23, 2025, following a conference call on July 24 at 9 AM ET. The analysts at Stifel noted that Churchill Downs' strong financial health, as indicated by a perfect Piotroski Score of 9 and an attractive P/E ratio relative to its growth potential, warrants this optimism [1].

The stock has underperformed year-to-date due to concerns about Kentucky Derby fundamentals and the gradual ramp of the company's $460 million development project, The Rose. However, Stifel analysts see potential catalysts for improved sentiment in the upcoming Q2 earnings report. The firm expects to see sequential improvement in The Rose's results and a resumption of Churchill Downs Racetrack development projects, which could signal confidence in Derby fundamentals [1].

Other analysts have also provided positive assessments for Churchill Downs. JMP Securities reiterated its Market Outperform rating and adjusted its price target to $138.00 after discussions with management led to revised earnings estimates. JPMorgan initiated coverage with an Overweight rating and a $116.00 price target, citing overly negative market sentiment and suggesting a favorable entry point for investors. Truist Securities reaffirmed its Buy rating with a $150 price target, despite acknowledging a decrease in EBITDA for the 151st Derby due to adverse weather [1].

The average target price for Churchill Downs stands at $132.84, with a high estimate of $154.00 and a low estimate of $115.00. This average target implies an upside of 24.38% from the current price of $106.80. As Churchill Downs navigates these challenges and opportunities, investors will closely watch the next earnings report for further insights.

References:
[1] https://www.investing.com/news/analyst-ratings/churchill-downs-stock-price-target-raised-to-133-by-stifel-ahead-of-q2-results-93CH-4131967