Janney Capital Starts Churchill Downs (CHDN) at Buy

Janney Capital initiates coverage on Churchill Downs (NASDAQ: CHDN) with a Buy rating and fair value target of $140.00.

Analyst Brian McGill commented, "We believe CHDN is an undervalued growth story with an attractive FCF outlook. We expect future growth will come from the Kentucky Derby and the recently completed Big Fish acquisition. Further share price appreciation could come from the sale of Arlington Racetrack and/or other gaming assets. Our fair value is $140, which we derive using a SOTP analysis and $10 of value for the land at Arlington."

For an analyst ratings summary and ratings history on Churchill Downs click here. For more ratings news on Churchill Downs click here.

Shares of Churchill Downs closed at $110.00 yesterday.

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