10 Stocks on Jim Cramer and Wall Street’s Radar

6. Churchill Downs Incorporated (NASDAQ:CHDN)

Number of Hedge Fund Holders: 39

Average Price Target Upside: 42.45%

Toward the end of April, Cramer called Churchill Downs Incorporated (NASDAQ:CHDN) a “one-trick pony,” as he said:

“Oh, you know what, that’s kind of, hey, it’s a one-trick pony. I’m not a fan, but I am a fan of yours.”

Churchill Downs (NASDAQ:CHDN) provides racing entertainment, online wagering, and casino gaming, including horse racing events, sports betting, and gaming at its properties. The company also offers technology and data services for wagering platforms and race operations.

On May 27, Citizens JMP cut its price target on Churchill Downs (NASDAQ:CHDN) to $138 from $144 and maintained an Outperform rating. The analyst noted that the company removed its historical racing machines in Louisiana, which were expected to generate $10 to $15 million in annual EBITDA. The firm added that efforts are in progress to recover the lost income.