Mizuho initiated coverage of Churchill Downs with a Buy rating and $142 price target. The owner/operator of traditional regional casinos and racetracks, best known as the owner of the iconic Kentucky Derby horse racing facility, has a number of high return on investment projects that the firm feels are not reflected in Street estimates, the analyst tells investors. In addition, Churchill has a strong free cash flow profile that should inflect higher as EBITDA from growth projects come online, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHDN:
- Bet On It: Rush Street Interactive said to explore potential sale
- Bet On It: Standard General proposes to buy rest of Bally’s shares for $15
- Bet On It: North Carolina to launch mobile sports betting on Monday
- Churchill Downs management to meet with JMP Securities
- Churchill Downs announces Exacta expansion in new Hampshire
