Churchill Downs (CHDN) May See Upside as Illinois Updates Online Wagering Laws

Wells Fargo today maintained an Outperform rating on Churchill Downs (NASDAQ: CHDN). Analyst Cameron McKnight thinks news that Illinois Governor Patrick Quinn signed legislation allowing residents to resume Online wagering will be positive for the stock.

"With Illinois Online wagering representing 78% of CHDN's Online business, which is ~25% of CHDN's total EBITDA, we view this development positively and expect CHDN's shares to react favorably today on this news. We remain Outperform rated, and believe the company is underappreciated and undervalued by the Street," said McKnight.

For an analyst ratings summary and ratings history on Churchill Downs (NASDAQ: CHDN) click here. For more ratings news on Churchill Downs click here.

Shares of Churchill Downs closed at $81.90 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
• B.Riley Downgrades Lantheus Holdings (LNTH) to Neutral
• York Space Systems (YSS) PT Lowered to $15 at Jefferies