JMP Securities analyst Jordan Bender raised the firm’s price target on Churchill Downs to $298 from $273 and keeps an Outperform rating on the shares. March casino revenue, the seasonally most important month of the year, capped a strong 1Q23 for land-based gaming, and the firm expects online growth to remain steady as North American sports betting will increase at a 20% 5-year CAGR and iGaming at 19%, the analyst tells investors in a research note.
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