Churchill Downs price target lowered to $140 from $148 at Truist

Truist analyst Barry Jonas lowered the firm’s price target on Churchill Downs to $140 from $148 after its Q3 earnings miss but keeps a Buy rating on the shares. There are multiple growth drivers offsetting any near-term industry macro concerns, but the firm is adjusting estimates by 4%-5% on timing and ramp of new builds, along with some transitory macro and competitive pressures, the analyst tells investors in a research note.