Truist Lowers Churchill Downs (CHDN) Price Target to $145, Maintains Buy Rating

Truist has reduced Churchill Downs' (CHDN) price target from $150 to $145 while maintaining a Buy rating. Analysts note that the gaming sector has recovered from Q1 challenges and that regional, local, and digital gaming markets show positive trends. However, Las Vegas performance is experiencing fluctuations. The average 1-year target price is $132.84 with an upside of 27.49% from the current price of $104.20.

Truist Securities, a leading financial services firm, has recently updated its assessment of Churchill Downs (CHDN, Financial). On July 16, 2025, the firm maintained its "Buy" rating for the stock while adjusting the price target from $150.00 to $145.00. This reduction reflects a 3.33% decrease in the expected price point, aligning with current market evaluations and strategic forecasts [1].

The gaming sector, a significant contributor to Churchill Downs' revenue, has shown signs of recovery from Q1 challenges. Regional, local, and digital gaming markets exhibit positive trends, with analysts noting that the sector is on a path to growth. However, performance in Las Vegas has been fluctuating, potentially impacting Churchill Downs' overall earnings [2].

Analysts predict an average 1-year target price of $132.84 for Churchill Downs, suggesting an upside of 27.49% from the current price of $104.20. This average target is based on the consensus of 12 analysts, with estimates ranging from $115.00 to $154.00. The consensus recommendation from 12 brokerage firms is currently 1.8, indicating an "Outperform" status [1].

Institutional investors have also shown confidence in Churchill Downs. Jennison Associates LLC, for instance, increased its stake by 3.0% during the first quarter, owning 1,030,846 shares valued at $114,496,000 [3].

Despite the price target reduction, Churchill Downs' financial performance remains robust. The company reported earnings per share of $1.07 for the quarter, missing analysts' consensus estimates by $0.01. Revenue was up 8.7% compared to the same quarter last year, indicating strong growth [3].

In summary, while Truist has lowered the price target for Churchill Downs, the stock maintains a positive outlook. The gaming sector's recovery and strong institutional support suggest that Churchill Downs remains a promising investment opportunity.

References:
[1] https://www.gurufocus.com/news/2981629/chdn-truist-securities-adjusts-price-target-for-churchill-downs-chdn-stock-news
[2] https://www.moomoo.com/news/post/63578748/record-tr4cking-news-tesla-earnings-preview-what-can-offset-declining-sales
[3] https://www.marketbeat.com/instant-alerts/filing-jennison-associates-llc-acquires-30444-shares-of-churchill-downs-incorporated-nasdaqchdn-2025-07-19/